KUALA LUMPUR: Malaysia is maintaining the export tax for crude palm oil (CPO) at eight per cent for April 2021.
In a circular posted on the Malaysia Palm Oil Board s website, the Royal Malaysian Customs Department said the eight per cent export duty rate was set after the CPO market price surpassed RM3,450 per tonne.
Malaysia, which is the world s second largest palm oil producer and exporter, calculated a reference price of RM4,331.48 per tonne for April.
The export tax structure starts at three per cent for CPO in a RM2,250 to RM2,400 per tonne range. The maximum tax rate is set at eight per cent when prices exceed RM3,450 ringgit per tonne.