Malaysia keeps April crude palm oil export duty at 8%

The world’s second largest palm exporter calculated a reference price of 4,031.45 ringgit ($914.16) per tonne for April.

Malaysia has maintained its April export tax for crude palm oil at 8% and raised its reference price, a circular on the Malaysian Palm Oil Board website showed on Thursday.

The world’s second largest palm exporter calculated a reference price of 4,031.45 ringgit ($914.16) per tonne for April. The March reference price was 3710.35 ringgit a tonne.

The export tax structure starts at 3% for crude palm oil in a 2,250 to 2,400 ringgit-per-tonne range. The maximum tax rate is set at 8% when prices exceed 3,450 ringgit a tonne.

Tags: export tax, price, Crude palm oil, Malaysia