Palm Oil Gains as India’s Import Tax to Boost Malaysia Exports
This article is for subscribers only.
Palm oil gained on speculation that Malaysia may increase exports of refined oils to India after the world’s biggest buyer said it will tax unprocessed cooking oils for the first time since 2008.
The contract for delivery in April climbed 0.9 percent to close at 2,400 ringgit ($797) a metric ton on the Malaysia Derivatives Exchange. Futures rose 1.4 percent this week, the first such advance in three weeks.