Malaysia raises benchmark price of crude palm oil in September, increases duty to 10%
Malaysia is raising the benchmark price of crude palm oil in September, which will increase the export duty rate to 10%. This was announced in an order published on the website of the Malaysian Palm Oil Board (MBOP) on Thursday.
The world’s second-largest palm oil exporter calculated the benchmark price for September at RM4,053.43 per tonne. The benchmark price for August was RM3,864.12 per tonne, which corresponded to a duty of 9%.
Recall that the initial export duty rate for palm oil in Malaysia is 3% if the price range is between RM2,250 and RM2,400 per tonne. The maximum tax rate is set at 10% for prices exceeding RM4,050 per tonne of product.
For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp.
It is a multi-functional online platform with market intelligence for grains and oilseeds that enables to get access to daily operational information on the Black Sea & Danube markets, analytical reports, historical data.
You are welcome to get a 7-day free demo access!!!
Read also
300% duty will not stop grain transit via Baltic ports as Lithuania seeks alternat...
Grain could be discussed at trilateral talks between Ukraine, US and Russia – Zele...
Join the 4S Business Summit Rotterdam 2026
12% increase in global sunflower crop to pressure sunflower oil prices
Palm oil prices remain stable amid production risks
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon