Malaysia kept its export duty on crude palm oil for March at zero percent, according to a circular on the Malaysian Palm Oil Board’s website.
The duty has been at zero percent since September.
Malaysia, the world’s second-largest producer of palm oil, calculated a palm oil reference price of 2,084.37 ringgit ($511.88) per tonne for March. Any price above 2,250 ringgit incurs a duty.
Exports of Malaysian palm oil products during February 1-15 rose 11.6% to 686,657 tonnes from 615,565 tonnes shipped during January 1-15, latest data from cargo surveyor Intertek Testing Services (ITS) showed.