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.
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