Malaysia maintained its October export tax for crude palm oil at 8%, a circular on the Malaysian Palm Oil Board website showed.
The world’s second-largest palm exporter calculated a reference price of 4,472.46 ringgit ($1,068.18) per tonne for October, up from 4,255.52 ringgit in September.
The export tax structure starts at 3% for crude palm oil in a 2,250 to 2,400 ringgit-per-tonne range. The maximum tax rate is set at 8% when prices exceed 3,450 ringgit a tonne.
Source: Reuters (Reporting by Mei Mei Chu; Editing by Muralikumar Anantharaman)