KUALA LUMPUR: Malaysia kept its export duty on crude palm oil for June unchanged 0%, according to a circular on the Malaysian Palm Oil Board’s website on Tuesday, citing the national customs department.
The duty has been at 0% since September.
Malaysia, the world’s second-largest producer of palm oil, calculated a palm oil reference price of RM2,018.76 (US$484.2) per tonne for June.
The Southeast Asian Nation in May had announced it would defer the imposition of export duties on crude palm oil to Dec 31 in efforts to boost palm oil exports and expand into new markets.
(US$1 = RM4.1690)