KUALA LUMPUR: Malaysia has maintained its November export tax for crude palm oil at 8 per cent and lowered its reference price, a circular on the Malaysian Palm Oil Board website showed on Tuesday.
The world's second-largest palm oil exporter calculated a reference price of 3,556.08 ringgit (US$751.81) per metric ton for November. The October reference price was RM3,710.50 a ton.
The export tax structure starts at 3 per cent for crude palm oil in a RM2,250 to RM2,400 per-ton range. The maximum tax rate is set at 8 per cent when prices exceed RM3,450 a ton. - Reuters