Malaysia keeps March crude palm oil export duty at 10%
Malaysia has maintained its March export tax on crude palm oil at 10%, and lowered its reference price, a circular on the Malaysian Palm Oil Board website showed on Wednesday.
The world’s second-largest palm exporter calculated a reference price of RM4,390.37 per metric ton for March. The February reference price was RM4,817.70 a ton.
The export tax structure starts at 3% for crude palm oil in a RM2,250 to RM2,400-per-ton range. The maximum tax rate is set at 10%, when prices exceed RM4,050 a ton.
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