The cut will be effective for a period of three months, and will reduce the effective tax rate on CPO to 30.25% from 35.75% previously.
CGS-CIMB Research analysts Ivy Ng and Nagulan Ravi are keeping their “neutral” stance on the agribusiness sector.
This comes as India has lowered its basic import duty on crude palm oil (CPO) to 10% from 15%, which took effect from June 30.
