10/01/2018 (Indiainfoline) - As per official data, Malaysia may see its palm oil exports increase after its government suspends export taxes on crude palm oil (CPO). Malaysian Plantation Industries and Commodities Minister Mah Siew Keong announced recently the suspension of export taxes on CPO for three months from January 8 Monday to April 7, in a bid to boost palm oil prices and reduce high stockpiles.

The taxes removal, however, will end early if CPO stocks fall to 1.6 million tonnes.According to Malaysian Palm Oil Board, Malaysias CPO export tax for January 2018 was 5.5 per cent; Malaysias stockpile in November 2017 stood at a two-year high of 2.56 million tonnes.