Malaysian palm oil exports jumped more than 30% in the first half of September from a month before, according to estimates from cargo surveyors, as a direct benefit of abolishing export taxes.
SINGAPORE/JAKARTA: Palm oil's share of global vegetable oil consumption looks set to climb in the months ahead as the top two producers engage in a tit-for-tat export tax tussle designed to boost sales.
Barely a month after No 2 producer Malaysia cut export tariffs, top palm oil maker Indonesia is preparing a similar move to boost sales of the tropical oil used for cooking and in products ranging from candies to cosmetics.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
