Friday 01 Dec 2023
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KUALA LUMPUR (Dec 13): Malaysia kept its export tax on crude palm oil for January at zero percent, according to a circular on the Malaysian Palm Oil Board's website on Thursday, citing the national customs department.

The tax has been at zero percent since September.

Malaysia, the world's second-largest producer of palm oil, calculated a palm oil reference price of RM1,800.58 ($430.76) per tonne for January. Any price above RM2,250 incurs a tax.

Malaysian benchmark palm oil futures were up 1.2 percent at RM2,057 a tonne at the midday break on Thursday. 

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