Malaysia keeps July crude palm oil export duty at 8.0%


KUALA LUMPUR: Malaysia has maintained its July export tax for crude palm oil at 8% and lowered its 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 RM3,604.73 per tonne for July. The June reference price was RM4,144.31 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

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Palm oil , CPO , crude palm oil , MPOB

   

Next In Business News

Rastam Mohd Isa is new FGV chairman
5G coverage in populated areas at 68.8%
UEM Sunrise to provide grant for water quality assessment
SNS Network positive on ICT industry
Cashew exports predicted to rebound strongly by year-end
VS Industry set to sustain order momentum
Samaiden, MBGB in clean energy tie-up
Poh Kong counts on rebound in consumption
Timely lift for Vietnam’s tra fish exports to US
Cypark issues third tranche of perpetual sukuk

Others Also Read