26.09.2019 (Successful Farming) - KUALA LUMPUR, Sept 26 (Reuters) - Malaysia has exempted export duty for crude palm kernel oil and RBD palm kernel oil from Oct. 1 until June 30, 2020, in a bid to reduce stockpiles in the domestic market.

The Ministry of Primary Industries said in a statement on Thursday that it will monitor and regulate the export volumes of the two palm kernel oil products on a monthly basis to ensure there is sufficient supply for domestic use.

The duty exemptions may be withdrawn and terminated immediately, it said.

The ministry said with exports expected to increase, the move will help raise crude palm oil prices.

Malaysian palm oil futures has risen 2.4% year-to-date, compared with a 15.3% drop in 2018, and 19.5% tumble in 2017. (Reporting by Liz Lee; editing by Jason Neely)