Malaysia to restore export taxes on crude palm oil
The export tax will discourage producers from exporting crude palm oil and instead sell the raw material to refiners, who in turn would be motivated to sell refined palm products at a lower price. It is unclear whether Indonesia, which scrapped exports taxes on CPO in October last year, will continue with the 0% duty for March, trade sources said.
KUALA LUMPUR (Nikkei Markets) -- Malaysia will continue to keep export duty on crude palm oil suspended until April-end as the trade-reliant nation seeks to halt further decline in price of the
Malaysia raises export tax on palm oil for March shipments
KUALA LUMPUR (NewsRise) Malaysia, the world's second-largest palm oil producer after Indonesia, raised the export tax rate on palm oil shipments for March amid rising prices. Exports of crude
Export tax freeze to support Malaysian palm oil industry. Malaysia Agriculture Economic News. 13 Feb 2024 . Text size +-Recommend. Malaysia has introduced temporary measures aimed at boosting palm oil exports and reducing stockpiles amid a slump in commodity prices. On January 8 the government suspended export taxes on crude palm oil (CPO) for three months, a move Mah Siew Keong, the
Malaysia keeps September crude palm oil export tax at 5.5
Malaysia, the world's second-largest palm oil producer after Indonesia, will maintain its crude palm oil export tax at 5.5 percent in September, the same rate as the previous month, according to
By Anuradha Raghu. KUALA LUMPUR, Dec 19 (Reuters) Malaysia will keep exports of crude palm oil duty-free until end-February, a senior government official said on Friday, as the world's second-largest grower tries to boost demand and cut stockpiles that have ballooned to a 21-month high.
CPO export tax hike to benefit refiners New Straits
The CPO export duty in Malaysia fluctuates on a monthly basis. If the palm oil price hovers between RM2,250 and RM2,400 a tonne, the tax is 4.5 per cent. If palm oil prices were to jump to RM3,450 per tonne, the tax would be 8.5 per cent. Exports of duty-free CPO dims the investment climate for refiners in Malaysia.
Malaysia, the world’s second-largest producer, left the tax on exports of crude palm oil unchanged for an eighth month to encourage shipments and prevent a
Indonesia's Palm Oil Export Tax at USD $18/Ton in February
Indonesia, the world's largest producer and exporter of crude palm oil (CPO), set the export tax for its CPO shipments at USD $18 per metric ton for February 2024, significantly higher than the USD $3 per metric ton export tax in the preceding month.
After having introduced palm oil export levies earlier this month, the Indonesian Finance Ministry announced on Tuesday (28/07) that it has implemented another change in the country’s palm oil industry. From now on, export taxes for crude palm oil (CPO) and other palm oil products will be expressed in US dollar instead of a percentage of the price.