KUALA LUMPUR, March 15 (Reuters) – Malaysia, the world’s second largest palm oil producer after Indonesia, raised its crude palm oil export tax from zero to 5 percent for April, a government circular showed on Tuesday, ending a duty-free policy held since May 2015.
The Southeast Asian nation calculated a reference price of 2,500.34 ringgit per tonne for April. A price above 2,250 ringgit per tonne incurs a tax, which starts from 4.5 percent and can reach a maximum 8.5 percent. (Reporting by Praveen Menon, Emily Chow; Editing by Michael Perry)
