Assistance for downstream players affected by Indonesia’s lower export palm oil duty

PETALING JAYA: Malaysia is drawing up an action plan, which will likely include reforms in its crude palm oil (CPO) export duty policy and a new fund estimated at over RM1bil, to assist local downstream players badly affected by Indonesia's palm oil export duty structure, sources said.

While the local CPO export duty has remained unchanged at 23% since the 1970s, Indonesia's CPO refined products export duties have been drastically slashed by more than half since October last year, and currently range from 3% to 20% .