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Author: edgeinvest   |   Latest post: Tue, 27 Sep 2022, 8:56 AM

 

Malaysia Keeps Crude Palm Oil Export Tax at 8% in September

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SINGAPORE (Aug 17): Gazetted price for crude palm oil (CPO) at RM3,907.51 a tonne, which incurs the maximum export tax of 8%, according to a statement from the customs department posted on the Malaysian Palm Oil Board’s website.

The tax has been kept at 8% since January 2021, following a government exemption in July-December 2020.

Export duty structure starts at 3% when free on board (FOB) prices for CPO are in the RM2,250 to RM2,400 per tonne range.

Maximum tax rate is 8% when prices are above RM3,450 per tonne.

Source: TheEdge - 18 Aug 2022

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