Palm oil data due in week 25—29 April and expectations

ITS, Amspec and SGS 1-25 April Malaysia export—Exports are expected to stay…
SPPOMA 1-25 April production—In contrast to exports, production is seen…
MPOA 1-20 April Malaysia production—Data was published just after mid-day close below. First 20 days of April output rose 7.24% within the expected range of 5—10%. Seasonal increase in yields pulled overall production higher set to mark second successive monthly rise. MPOA or Malaysia Palm Oil Association data covers around 36% or 2 million hectares of oil palm planted area with membership dominated by leading private transnational companies.
Malaysia May CPO reference price and export tax— Malaysia May CPO reference was calculated at RM6759.22/ton (US$1570) which incurs the maximum export tax of 8%. The reference price was published during the second half of trading session is RM833.89 (US$67) higher than the April rate of RM5925.33/ton and against expectation of a reduction. The top tax rate of 8% was retained for the seventh successive month. With the ringgit in sharp decline, the duty payable in dollar will only see a marginal rise from April in US dollar terms. There are no taxes on other palm products, except for RBD PKO and CPKO taxed at a flat rate of 5% and 10% respectively.