Malaysia keeps April crude palm oil export duty at 10%

Malaysia has kept its April export tax for crude palm oil at 10% but increased the reference price to 4,547.79 ringgit per metric ton, up from 4,390.37 ringgit in March. The export tax varies from 3% to 10% depending on the price of the crude palm oil. The higher tax rate of 10% is applied when the price exceeds 4,050 ringgit a ton.

Malaysia has maintained its April export tax for crude palm oil at 10% and raised its reference price, a circular on the Malaysian Palm Oil Board website showed on Wednesday. The world’s second-largest palm exporter calculated a reference price of 4,547.79 ringgit per metric ton for April. The March reference price was 4,390.37 ringgit a ton. The export tax structure starts at 3% for crude palm oil in a 2,250 to 2,400 ringgit-per-ton range. The maximum tax rate is set at 10% when prices exceed 4,050 ringgit a ton. Further development of the grain sector in the Black Sea and Danube region will be discussed ...