17/05/2024 (Malaysia Sun), Kuala Lumpur - Malaysia, the world's second-largest palm oil producer, has on Thursday kept its June crude palm oil (CPO) exports duty at 8 percent.

According to a circular from the Malaysian Palm Oil Board (Malaysia), Malaysia has lowered its CPO reference price for June to 3,956.06 ringgit (844 U.S. dollars) from 4,273.93 ringgit in May.

Based on the tax structure, no export duty will be imposed on any CPO price below 2,250 ringgit per ton.

An export tax of 3 percent will be imposed when the CPO price ranges between 2,250 ringgit and 2,400 ringgit per ton.

The maximum tax rate is 8 percent when the CPO prices are above 3,450 ringgit per ton. (1 ringgit equals 0.21 U.S. dollar)

https://www.malaysiasun.com/news/274375280/malaysia-keeps-june-crude-palm-oil-exports-duty-at-8-pct