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.