Malaysia keeps April crude palm oil export duty at 8%

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

The world's second-largest palm exporter calculated a reference price of 3,958.58 ringgit ($842.43) per metric ton for April. March's reference price was 3,793.94 ringgit a 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