Malaysia lowers November crude palm oil reference price, maintains duty at 10%

Malaysia has lowered its November crude palm oil reference price to a level that maintains the export duty at 10%, a circular on the Malaysian Palm Oil Board website showed on Tuesday. The world’s second-largest palm exporter calculated a reference price of RM4,262.23 (US$1,008.10) per metric tonne for November. The October reference price was RM4,268.68 a tonne, and incurred a duty of 10%. 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 10% when prices exceed RM4,050 a tonne. 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 ...