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Malaysia sets January crude palm oil exports tax at 5 pct

KUALA LUMPUR
2019-12-13 15:42

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KUALA LUMPUR, Dec. 13 (Xinhua) -- Malaysia, the world second largest palm oil producer, on Friday set its crude palm oil exports tax for January next year at 5 percent.

According to a circular on Malaysian Palm Oil Board, the palm oil reference price for next month is 2,571.16 ringgit (about 620.83 U.S. dollars) per ton. Any price above 2,250 ringgit incurs duty.

Earlier in May, Malaysia extended palm oil export duty tax-exemption period to December to boost its palm oil exports.
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