Malaysia maintains CPO export tax at 8% for April 2021
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 pe...