HomeBusinessMalaysia keeps March crude palm oil export duty at 8per cent

Malaysia keeps March crude palm oil export duty at 8per cent

KUALA LUMPUR : Malaysia has maintained its March export tax for crude palm oil at 8per cent and raised its reference worth, a doc on the Malaysian Palm Oil Board web site confirmed on Wednesday.

The world’s second-largest palm exporter calculated a reference worth of 5,277.58 ringgit ($1,261.07) per tonne for March. The February reference worth was 4,907.14 ringgit a tonne.

The export tax construction begins at 3per cent for crude palm oil in a 2,250 to 2,400 ringgit-per-tonne vary. The most tax fee is ready at 8per cent when costs exceed 3,450 ringgit a tonne.

($1 = 4.1850 ringgit)

(Reporting by Mei Mei Chu)

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