Malaysia keeps February’s crude palm oil exports tax at 8 pct

Published 2023년 1월 30일

Tridge summary

Malaysia has maintained an 8% export duty on crude palm oil (CPO) for February and increased the reference price to 3,893.25 ringgit per tonne from 3,889.52 ringgit in January. The country's palm oil board has set the export duty structure, with no duty for prices below 2,250 ringgit per tonne, a 3% duty for prices between 2,250 ringgit and 2,400 ringgit per tonne, and a maximum rate of 8% for prices above 3,450 ringgit per tonne.

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Original content

Malaysia has kept its crude palm oil (CPO) export duty 8 percent in February, and raised its reference price, the Malaysian Palm Oil Board circular showed on Thursday. The world’s second largest palm oil producer raised the CPO reference price in February to 3,893.25 ringgit from 3,889.52 ringgit per tonne in January. Based on the tax structure, no export duty will be imposed on any CPO price below 2,250 ringgit per tonne. An export tax of 3 percent will be imposed when the CPO price ranges between 2,250 ringgit and 2,400 ringgit per tonne. The maximum tax rate ...

Source: UkrAgroConsult