Advertise
A publication on the Malaysian Palm Oil Board website on Monday showed that Malaysia lowered its crude palm oil reference price for December to a level that keeps the export duty at 10%.
The world’s second-largest palm oil exporter set a reference price of RM4,206.38 per metric tonne for December.
The November reference price was RM4,262.23 per tonne and was subject to a 10% duty.
The export tax structure starts at 3% for crude palm oil when prices range between RM2,250 and RM2,400 per tonne.
The maximum tax rate is set at 10% when prices exceed RM4,050 per tonne.