PETALING JAYA: The competitiveness for Malaysia’s downstream palm oil products will decrease following the move by Indonesia to amend its export tax policy for crude palm oil (CPO) and refined palm oil export, says RHB Research.
The Indonesian government has, with effect from Sept 21, 2024, abolished export tax rates based on a graduated scale and put into place a fixed 7.5% export tax rate for CPO, to increase the competitiveness of palm oil prices in Indonesia and provide added value to the price of fresh fruit bunches at the farmer level.
