Malaysia March export tax for crude palm oil unchanged at 6%
Successful Farming (13/02/2020) - KUALA LUMPUR, Feb 13 (Reuters) - Malaysia has held its export tax for crude palm oil unchanged at 6% for March, the Malaysian Palm Oil Board said on Thursday, citing the national customs department.
The reference price is set at 2,982.63 ringgit per tonne.
The world's second-largest producer and exporter of palm oil had raised its export tax for February to 6% from 5% in January.
The export tax structure starts at 3% for crude palm oil priced in a 2,250-2,400 ringgit-per-tonne range. The maximum tax rate is set at 8% when prices are above 3,450 ringgit a tonne. (Reporting by Mei Mei Chu; Editing by Tom Hogue)