KUALA LUMPUR (Sept 15): Malaysia has raised its October crude palm oil reference price to a level that maintains the export duty at 10%, a circular on the Malaysian Palm Oil Board website showed on Tuesday.

The world’s second-largest palm exporter calculated a reference price of RM4,452.66 (US$1,091.34) per metric tonne for October.

The September reference price was RM4,392.32 a tonne, and incurred a duty of 10%.

The export tax structure starts at 3% for crude palm oil in a RM2,250-to-RM2,400-per-tonne range. The maximum tax rate is set at 10% when prices exceed RM4,050 a tonne.

Source : The Edge Malaysia