Malaysia extends zero duty on crude palm oil exports

Industry players and analysts had anticipated that the CPO export tax would resume in March given the recovery in the locally delivered CPO prices currently hovering at RM2,290-RM2,300 per tonne.

PETALING JAYA: Malaysia is extending the zero duty on crude palm oil (CPO) exports for March based on the newly released CPO gazetted price at RM2,232.88 per tonne yesterday, which is still below the RM2,250 per tonne price threshold that will trigger the export duty.

The exemption on CPO export duty has taken many by surprise especially after the Government announced last week on the possibility of resuming the export duty regime that had been suspended since September last year.