Reuters (18/05/2020) - Malaysian palm oil futures rose 3% on Friday after exports rose in May and as the world's second-largest producer, Malaysia, scrapped its export duty on the commodity for June.
The steep cut in export duty to 0% for June, from 4.5% in May, comes amid an estimated 25% slump in global demand for the edible oil as the coronavirus outbreak shuttered restaurants and curbed travel around the world.
Read more at https://www.reuters.com/article/asia-morning-call-global-markets/asia-morning-call-global-markets-idUSL4N2CZ0C2
ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
Malaysian Palm Oil Board ( MPOB )
Lot 6, SS6, Jalan Perbandaran,
47301 Kelana Jaya,
Selangor Darul Ehsan,
Tel : 603 - 7802 2800 || Fax : 603 - 7803 3533