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Malaysia Keeps Palm Oil Export Tax Unchanged for Fourth Month

Malaysia left the tax on crude palm oil exports unchanged for a fourth month in June as the world’s second-largest producer seeks to increase shipments and trim inventories amid a decline in prices. Futures fell.

Shipments will be taxed at 4.5 percent next month as the reference price was set at 2,332.02 ringgit ($777) a metric ton, within the minimum band for a levy to be applied, according to a Customs Department statement. The tariff was zero in January and February before being raised to 4.5 percent in March.