KUALA LUMPUR: Malaysia, the world’s second-largest palm oil producer after Indonesia, will keep its crude palm oil export tax at 6.5% in November, unchanged from October, according to a circular on the Malaysian Palm Oil Board.
The Southeast Asian nation calculated a reference price of MYR2,865.40 (USD689.63) per tonne for November. A price above MYR2,250 incurs a tax, which starts from 4.5% and can reach a maximum of 8.5%.
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