Malaysia to leave duty on crude palm oil exports unchanged in June
According to the Malaysian Palm Oil Board, Malaysia will keep the export tax on crude palm oil at 8% in June.
At the same time, the reference price for the product next month will be lowered to 3956.06 ringgit ($845.13) per ton against 4273.93 ringgit/t set in May.
As a reminder, Malaysia’s 3% export duty on crude palm oil starts to apply at a price in the range of 2250 to 2400 ringgit/t. The maximum tax rate is set at 8% if prices exceed 3450 ringgit/t.
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