MPOB Palmnews
 
Date
 15/05/2019
News Provider
 Nur Aisha Abd. Wahab
News Source
 Yahoo Finance
Headline
 Malaysia keeps June crude palm oil export duty at zero percent

Yahoo Finance (14/05/2019) - KUALA LUMPUR (Reuters) - Malaysia kept its export duty on crude palm oil for June unchanged at zero percent, according to a circular on the Malaysian Palm Oil Board's website on Tuesday, citing the national customs department.


The duty has been at zero percent since September.


Malaysia, the world's second-largest producer of palm oil, calculated a palm oil reference price of 2,018.76 ringgit ($484.2) per tonne for June. Any price above 2,250 ringgit incurs a duty.


The Southeast Asian Nation in May had announced it would defer the imposition of export duties on crude palm oil to Dec. 31 in efforts to boost palm oil exports and expand into new markets.


Malaysian benchmark palm oil futures were last up 0.1% at 1,985 ringgit per tonne on Monday evening, after falling to a five-month low of 1,960 ringgit.


($1 = 4.1690 ringgit)


Read more at https://finance.yahoo.com/news/malaysia-keeps-june-crude-palm-oil-export-duty-024714792--finance.html