KUALA LUMPUR: Malaysia has raised its export tax for crude palm oil to 6% for February, the Malaysian Palm Oil Board said on Friday, citing the national customs department.
The world’s second-largest producer and exporter of palm oil calculated a reference price of 2,907.63 ringgit per tonne for next month.
Malaysia had set the export tax for January at 5%, raising it after placing a tax-free exemption on crude palm oil from May to December 2019 in a move to boost palm oil exports and expand into new markets. - Reuters
source https://www.thesundaily.my/business/malaysia-sets-february-export-tax-for-crude-palm-oil-at-6-EN1906457
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