MARKET DEVELOPMENT
Malaysia keeps March crude palm oil export duty at 8%
Malaysia keeps March crude palm oil export duty at 8%
22/02/2023 (The Star Online), Kuala Lumpur - Malaysia has maintained its March export tax for crude palm oil at 8% and lowered the reference price, a circular on the Malaysian Palm Oil Board website showed on Wednesday.
The world's second largest palm exporter calculated a reference price of RM3,710.35 per tonne for March. The February reference price was RM3,893.25 a tonne.
The export tax structure starts at 3% for crude palm oil in a RM2,250 to RM2,400 per tonne range. The maximum tax rate is set at 8% when prices exceed RM3,450 a tonne. – Reuters