Malaysia keeps September crude palm oil export duty at 8%

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

The world's second-largest palm exporter calculated a reference price of 3,755.13 ringgit ($808.08) per metric ton for September. The August reference price was 3,614.28 ringgit a metric ton.

The export tax structure starts at 3% for crude palm oil in a 2,250 to 2,400 ringgit-per-ton range. The maximum tax rate is set at 8% when prices exceed 3,450 ringgit a ton. - Reuters