Malaysia keeps June crude palm oil export duty at 8%, raise reference price

Malaysia has maintained its June 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 RM4,144.31 per tonne for June. The May reference price was RM4,063.58.

The export tax structure starts at 3% for crude palm oil in a RM2,250 to RM2,400 per tonne range. The maximum tax rate is set at 8% when prices exceed RM3,450 a tonne.

Tags: Malaysian Palm Oil Board, export tax, reference price, Crude palm oil, Malaysia