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Malaysia keeps September crude palm oil export duty at 8.0per cent

KUALA LUMPUR : Malaysia has kept its September export tax for crude palm oil at 8per cent, a circular on the Malaysian Palm Oil Board website showed on Wednesday.

The world's second-largest palm exporter raised the reference price for September to 4,255.52 ringgit (US$1,006.51) per tonne. The August reference price was 3,975.92 ringgit a tonne.

The export tax structure starts at 3per cent for crude palm oil in a 2,250 to 2,400 ringgit per tonne range. The maximum tax rate is set at 8per cent when prices exceed 3,450 ringgit a tonne.

(US$1 = 4.2280 ringgit)

(Reporting by Mei Mei Chu; Editing by Christian Schmollinger)

Source: Reuters


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