Malaysia keeps May crude palm oil export duty at 10%, lowers reference price
Malaysia has maintained its May export tax for crude palm oil at 10% and lowered its reference price, a circular on the Malaysian Palm Oil Board website showed on Tuesday.
The world’s second largest palm exporter calculated a reference price of 4,449.35 ringgit ($1,008.47) per metric ton for May. The April reference price was 4,547.79 ringgit a ton.
The export tax structure starts at 3% for crude palm oil in a 2,250 to 2,400 ringgit-per-ton range. The maximum tax rate is set at 10% when prices exceed 4,050 ringgit a ton.
Further development of the grain and oilseed markets of Ukraine and the Black Sea region will be in the spotlight of the BLACK SEA GRAIN. KYIV conference, taking place on April 22–23 in Kyiv. The event will focus on strategic directions for the agricultural sector through 2030, including investments, energy independence, processing, and exports of high-value products.
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