OILS & FATS
Malaysia keeps September crude palm oil export duty at 8%
Malaysia keeps September crude palm oil export duty at 8%
20/08/2024 (Reuters), Kuala Lumpur - Malaysia has maintained its export tax for crude palm oil at 8% in September and raised its reference price, a circular on the Malaysian Palm Oil Board website showed on Tuesday.
The world's second-largest palm exporter calculated a reference price of RM3,915.19 per metric tonne for September. August's reference price was RM3,880.86 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.