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Crude palm oil export tax remains at 8% for Oct

Reference price of RM4,472.46 per tonne set for next month

Updated 4 years ago · Published on 20 Sep 2021 3:10PM

Crude palm oil export tax remains at 8% for Oct
The maximum tax rate is set at 8% when crude palm oil prices exceed RM3,450 a tonne. – Pixabay pic, September 20, 2021

KUALA LUMPUR – Malaysia maintained its October export tax for crude palm oil at 8%, a circular on the Malaysian Palm Oil Board website showed today.

The world’s second largest palm exporter calculated a reference price of RM4,472.46 per tonne for next month, up from 4,255.52 ringgit in September.

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 8% when prices exceed RM3,450 a tonne. – Reuters, September 20, 2021

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