Rapeseed: Malaysia imposes 5% export duty on palm oil

December 16, 2019 at 3:35 PM , Der AUDITOR
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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

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