Malaysia sets April crude palm oil export tax at 5% after earlier suspension

22.03.2018
Malaysia, the world's second-largest palm oil producer after Indonesia, set its crude palm oil export tax at 5.0% in April, after a three-month duty suspension implemented at the start of the year, according to a government circular on Thursday.
 
The Southeast Asian nation calculated a palm oil reference price of 2,474.63 ringgit (US$633.38) per tonne for April. A price above 2,250 ringgit incurs a tax.
 
Malaysia in early January, suspended its export tax on crude palm oil for three months to increase demand and boost prices, as it expected stockpiles to grow in 2018.
 
 

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