Malaysia keeps November crude palm oil export duty at 8%

Malaysia has maintained its November export tax for crude palm oil at 8%and raised its reference price, a circular on the Malaysian Palm Oil Board website showed on Wednesday. The world’s second-largest palm exporter calculated a reference price of 3,949.73 ringgit ($918.54) per metric ton for November. October’s reference price was 3,839.10 ringgit a ton. The export tax structure starts at 3% for crude palm oil in a 2,250 to 2,400 ringgit-per-ton range. The maximum tax rate is set at 8% when prices exceed 3,450 ringgit a ton. For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp. It is a multi-functional online platform with market intelligence for ...