Malaysia keeps January crude palm oil export duty at 8%

KUALA LUMPUR: Malaysia has maintained its January export tax for crude palm oil at 8% and raised its reference price, a circular on the Malaysian Palm Oil Board website showed on Thursday.

The world's second-largest palm oil exporter calculated a reference price of RM3,679.50 ($791.63) per metric ton for January. The December reference price was RM3,589.09 a ton.

The export tax structure starts at 3% for crude palm oil in a RM2,250 to RM2,400 per ton range. The maximum tax rate is set at 8% when prices exceed 3,450 ringgit a ton. - Reuters