Malaysia keeps October crude palm oil export duty at 8%

Malaysia has kept the October export tax for crude palm oil at 8% but reduced the reference price to RM3,839.10 per metric ton, down from RM3,915.19 in September. The export tax varies from 3% to 8% depending on the price of the crude palm oil.

Malaysia has maintained its October export tax for crude palm oil at 8% and lowered its reference price, a circular on the Malaysian Palm Oil Board website showed on Tuesday. The world’s second-largest palm exporter calculated a reference price of RM3,839.10 per metric ton for October. September’s reference price was RM3,915.19 a ton. The export tax structure starts at 3% for crude palm oil in a RM2,250 to RM2,400 per ton range. The maximum tax rate is set at 8% when prices exceed RM3,450 a ton. For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp. It is a multi-functional online platform with market intelligence for grains ...