KUALA LUMPUR (April 17): Malaysia has maintained its May export tax for crude palm oil at 8% and raised its reference price, a circular on the Malaysian Palm Oil Board website showed on Monday (April 17).
The world's second-largest palm exporter calculated a reference price of RM4,063.58 per tonne for May. The April reference price was RM4,031.45 a tonne.
The export tax structure starts at 3% for crude palm oil in a RM2,250 to RM2,400 ringgit-per-tonne range. The maximum tax rate is set at 8% when prices exceed RM3,450 a tonne.
Source: The Edge Markets
May 05, 2023
