Malaysia keeps March crude palm oil export duty at 8%

Published 02/16/2022, 02:51 AM
Updated 02/16/2022, 03:00 AM
© Reuters. FILE PHOTO: A worker arranges palm oil fruit bunches on a truck at a factory in Tanjung Karang, Malaysia August 14, 2020. REUTERS/Lim Huey Teng

KUALA LUMPUR (Reuters) - Malaysia has maintained its March export tax for crude palm oil at 8% and raised its reference price, a document on the Malaysian Palm Oil Board website showed on Wednesday.

The world's second-largest palm exporter calculated a reference price of 5,277.58 ringgit ($1,261.07) per tonne for March. The February reference price was 4,907.14 ringgit a tonne.

© Reuters. FILE PHOTO: A worker arranges palm oil fruit bunches on a truck at a factory in Tanjung Karang, Malaysia August 14, 2020. REUTERS/Lim Huey Teng

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

($1 = 4.1850 ringgit)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.