Malaysia holds November crude palm oil export duty at 8 pct

Malaysia, the world’s second-largest palm oil producer, on Tuesday maintained its crude palm oil (CPO) export duty for November at 8 percent.

According to a circular on the Malaysian Palm Oil Board (MPOB), the CPO reference price for November has been lowered to 3,556.08 ringgit (751.50 U.S. dollars) from 3,710.50 ringgit in October.

Based on the tax structure, no export duty will be imposed on any CPO price below 2,250 ringgit per ton.

An export tax of 3 percent will be imposed when the CPO price ranges between 2,250 ringgit and 2,400 ringgit per ton.

Tags: MPOB, Crude palm oil, Malaysia, palm oil, export duty, Malaysian Palm Oil Board, CPO, price