Malaysia keeps its crude palm oil export duty at zero


The government of Malaysia has decided to extend the zero duty on crude palm oil exports from the country by another month (until the end of March 2019).

The palm oil export duty in Malaysia has been at zero percent since September 2018, reports UkrAgroConsult.

According to forecasts made by the Malaysian Palm Oil Board (MPOB), palm oil prices in 2019 will hold steady at MYR 2,303/MT (roughly USD 565/MT), although the world’s output of the product may close the year up 3 MMT.

The MPOB estimates global palm oil production in 2019 at 72 MMT. Output of this commodity in Malaysia may increase to 20.2 MMT against 19.5 MMT in 2018, while that in Indonesia will likely climb to 42.8 MMT (42 MMT).

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