16/11/2016 (The Edge) - Malaysia, the world’s second-largest palm oil producer after Indonesia, will lower its crude palm oil export tax to 6% in December, down from 6.5% in November, according to a circular on the Malaysian Palm Oil Board website on Tuesday.

The Southeast Asian nation calculated a palm oil reference price of 2,792.79 ringgit (US$644.54) per tonne for December. A price above 2,250 ringgit incurs a tax, which starts from 4.5% and can reach a maximum of 8.5%.

Malaysia last month maintained the tax for November at 6.5%, unchanged from October.