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Malaysia to Cut Palm Oil Export Duty in Jan. to Boost Shipments: Kok

Oct. 14, 2019, 8:42 AM

Malaysia will cut its export duty rate on crude palm oil from January as the country seeks to boost shipments, according to Primary Industries Minister Teresa Kok.

  • The move is to encourage exports of palm oil and reduce the burden on exporters during this low price period, Kok says on Monday.
  • The new export duty structure, which will come into effect from Jan., will see a lower rate of 3% for when FOB prices for CPO are in the 2,250-2,400 ringgit/ton range, compared to 4.5% currently.
    • Maximum tax rate lowered to 8% when prices are above 3,450 ringgit/ton, from 8.5% ...

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