Malaysia keeps March crude palm oil export duty at 8%

KUALA LUMPUR: Malaysia has maintained its March export tax for crude palm oil at 8% and lowered the 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 RM3,710.35 per tonne for March. The February reference price was RM3,893.25 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. - Reuters

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