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KUALA LUMPUR (Nov 11): Malaysia has lowered its December crude palm oil (CPO) reference price, a change that maintains the export duty at 10%, a circular on the Malaysian Palm Oil Board (MPOB) website showed on Wednesday.
The world's second-largest palm exporter calculated a reference price of RM4,259.70 per metric ton for December. The November reference price was RM4,323.78 a ton, and incurred a duty of 10%.
The export tax structure starts at 3% for CPO in a RM2,250 to RM2,400 per ton range. The maximum tax rate is set at 10% when prices exceed RM4,050 a ton.
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