Malaysia keeps October crude palm oil export duty at 8%

Malaysia has maintained its October export tax for crude palm oil at 8% 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 RM3,839.10 per metric ton for October. September’s reference price was RM3,915.19 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 8% when prices exceed RM3,450 a ton.

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Tags: Crude palm oil, Malaysia, export tax