16.05.2021 (www.nasdaq.com) - KUALA LUMPUR, May 17 (Reuters) - Malaysia has kept its May export tax for crude palm oil at 8% but raised the reference price, a circular on the Malaysian Palm Oil Board website showed on Monday.

The world's second-largest palm exporter calculated a reference price of 4,533.40 ringgit per tonne for May, up from 4,331.48 ringgit a tonne in April.

The export tax structure starts at 3% for crude palm oil in a 2,250 to 2,400 ringgit-per-tonne range. The maximum tax rate is set at 8% when prices exceed 3,450 ringgit a tonne.

(Reporting by Mei Mei Chu; Editing by Christopher Cushing)

https://www.nasdaq.com/articles/malaysia-maintains-may-crude-palm-oil-export-duty-at-8-2021-05-16