Malaysia to cut CPO export tax to 5% in April following lower prices in Q1

In Malaysia, Platts reports that on the back of lower palm oil demand from India which has pushed down prices during the first quarter, the government will cut the export duty on crude palm oil exports to 5% in April from 6% currently after palm oil prices fell through the current reference price band. Coronavirus is also through to have had an impact on weaker prices starting as early as late January when futures dipped 10%.