KUALA LUMPUR, Oct 17 — 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 RM3,556.08 a tonne for November. The October reference price was RM3,710.50 a tonne.
The export tax structure starts at 3 per cent for crude palm oil in between a RM 2,250 and RM 2,400 a tonne range. The maximum tax rate is set at 8 per cent when prices exceed RM3,450 a tonne.
— Reuters
