Malaysia has maintained its January, 2024 export tax for crude palm oil at 8% and raised its reference price, a circular on the Malaysian Palm Oil Board website showed on Thursday.
The world’s second-largest palm oil exporter calculated a reference price of RM3,679.50 per metric tonne for January. The December reference price was RM3,589.09 a tonne.
The export tax structure starts at 3% for crude palm oil in a RM2,250 to RM2,400-per-tonne range. The maximum tax rate is set at 8% when prices exceed RM3,450 a tonne. – Reuters
