Malaysia Keeps Palm Oil Export Tax Unchanged to Spur Shipments
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Malaysia, the world’s second-largest producer, left the tax on exports of crude palm oil unchanged for an eighth month to encourage shipments and prevent a build-up in stockpiles during the peak output season.
Cargoes will be taxed at 4.5 percent in October after the reference price was set at 2,306.11 ringgit ($709) a metric ton, according to a Customs Department statement. The tariff was zero in January and February before rising to 4.5 percent in March.