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Malaysia trims Crude Palm Oil export tax for August
Commodity Online | July 17 2017
UPDATED 15:02:21 IST

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Malaysia has trimed Crude Palm Oil export tax for August this year to 5.5 percent from 6.5 percent in July, according to the Malaysian Palm Oil Board.

Malaysia, the world's second-largest palm oil producer after Indonesia, has calculated a Palm Oil reference price of 2,699.54 ringgit ($629.56) per ton for August. A price above 2,250 ringgit incurs a tax, which starts from 4.5 percent and can reach a maximum of 8.5 percent.

The Southeast Asian nation had last raised the tax to 6.5 percent in July after earlier lowering it for three consecutive months.

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