Malaysia keeps crude palm oil export tax at 8% in September
Gazetted price for crude palm oil (CPO) at RM3,907.51 a tonne, which incurs the maximum export tax of 8%, according to a statement from the customs department posted on the Malaysian Palm Oil Board’s website.
The tax has been kept at 8% since January 2021, following a government exemption in July-December 2020.
Export duty structure starts at 3% when free on board (FOB) prices for CPO are in the RM2,250 to RM2,400 per tonne range.
Maximum tax rate is 8% when prices are above RM3,450 per tonne.
Read also
Registration for BLACK SEA GRAIN.KYIV goes on – join with Early Ticket by Ja...
Dry weather hits Argentina’s corn crop
Spain cuts orange supplies due to low harvest
Oilseed processing in Ukraine has reached its peak in recent years thanks to expor...
China Updates Registration Rules for Foreign Food Manufacturers
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon