MARKET DEVELOPMENT
Malaysia Keeps August Crude Palm Oil Export Tax at 5 Pct
Malaysia Keeps August Crude Palm Oil Export Tax at 5 Pct
18/07/2014 (Reuters) - Malaysia, the world's second-largest palm grower, has kept its crude palm oil export tax for August at 5 percent, a government circular showed on Friday, the same as a month ago.
The rate was lowered to 5.0 percent in July after being kept unchanged at 5.5 percent since April.
The Southeast Asian country calculated a reference price of 2,429.57 ringgit ($760) per tonne for August crude palm oil, effectively keeping the export duty at 5 percent. ($1 = 3.1800 Malaysian Ringgit)
The rate was lowered to 5.0 percent in July after being kept unchanged at 5.5 percent since April.
The Southeast Asian country calculated a reference price of 2,429.57 ringgit ($760) per tonne for August crude palm oil, effectively keeping the export duty at 5 percent. ($1 = 3.1800 Malaysian Ringgit)