KUALA LUMPUR: Malaysia has raised its October crude palm oil reference price to a level that maintains the export duty range at 10%, a statement by the Malaysian Palm Oil Board showed on Friday.
The world's second largest palm exporter calculated a reference price of RM4268.68 per metric ton for October. The September reference price was RM4,053.43 a ton, and incurred a duty of 10%.
The export tax structure starts at 3% for crude palm oil in a RM2,250 to RM2,400 per ton range. The maximum tax rate is set at 10% when prices exceed RM4,050 a ton. - Reuters
