KUALA LUMPUR: Malaysia, the world’s second-largest palm oil producer after Indonesia, will raise its crude palm oil (CPO) export tax to 7.5% in February, up from 7% in January, according to a circular on the Malaysian Palm Oil Board website yesterday.
Malaysia calculated a palm oil reference price of RM3,279.76 per tonne for February. A price above RM2,250 a tonne incurs a tax, which starts from 4.5% and can reach a maximum of 8.5%.
The country raised the CPO export tax to 7% last month, up from 6% in December.
