KUALA LUMPUR: Malaysia has raised its March crude palm oil reference price, a change that maintains the export duty at 9%, a circular on the Malaysian Palm Oil Board website showed on Thursday.
The world’s second-largest palm exporter calculated a reference price of RM3,896.09 per metric tonne for March. The February reference price was RM3,846.84 a tonne, and incurred a duty of 9%.
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 10% when prices exceed RM4,050 a tonne. – Reuters
