KUALA LUMPUR (Oct 16): Malaysia has maintained its November export tax for crude palm oil at 8%, and raised its reference price, a circular on the Malaysian Palm Oil Board (MPOB) website showed on Wednesday.

The world’s second largest palm exporter calculated a reference price of RM3,949.73 (US$918.54) per metric tonne for November. October’s reference price was RM3,839 a tonne.

The export tax structure starts at 3% for crude palm oil in a RM2,250-RM2,400 per tonne range. The maximum tax rate is set at 8%, when prices exceed RM3,450 a tonne.

 

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Source: Liza Shireen Koshy, The Edge Malaysia