Rapeseed: Malaysia imposes 5% export duty on palm oil

December 16, 2019 at 3:35 PM , Der AUDITOR
Play report as audio

HAMBURG. The rapeseed and canola market reaches annual highs. The reasons are the outcome of negotiations in the customs dispute with China, the increase in export taxes for soybeans in Argentina and the announcement of Malaysian export duties for palm oil from 1 January 2020.

The canola and rapeseed market continued its upward trend after the USA and China finally made terms on a Phase 1 agreement after 17 months of negotiations, which allows exports of US agricultural goods to double compared to 2017. China agreed to buy US soybeans, poultry and other agricultural products worth billions. US trade talks about 50 billion USD, compared to 24 billion USD in 2017. The question is whether China can even stem such high purchases. Canadian traders continued to be sceptical about the price increase because oil mills in Canada only maintained their high crush

Categories:

View related articles

Go to the News Overview
Grains
Nov 22, 2024
BRUSSELS. With the war in Ukraine taking new terrible turns concerns are growing that wheat and corn will be impacted. Rumour has it that France exported much more wheat to Morrocco than official figures suggest. US soybean exporters depend much less on China than one may think. Euronext rapeseed futures have slipped.
Oilseeds
Nov 21, 2024
NEW DELHI/BRASÍLIA. India's sesame seed exports increased significantly in volume terms in October 2024, while the export value rose only moderately due to lower prices. Despite a smaller crop, the recent price declines could be only temporary.
Oilseeds
Nov 21, 2024
CHRUDIM. Larger acreages and higher yields have significantly increased the Czech blue poppy seed crop this year. This has ensured that prices have become noticeably more favourable again compared to previous years.
Oilseeds
Nov 20, 2024
SOFIA/KYIV. Chaotic weeks lie behind the sunflower seed market. A few weeks before the turn of the year, things are now calming down and, according to market players, things could stay that way for the time being.