Published:
Malaysia raises CPO export tax amidst price hikes
Cargoes will be taxed at 5.5%.
According to Bloomberg, Malaysia, the world’s second-largest palm producer, increased the tax on exports of crude oil after prices climbed to the highest level since 2012.
"Cargoes will be taxed at 5.5 percent in April from 5 percent this month, according to a customs statement on the website of the Malaysian Palm Oil Board.
The reference price for calculating the tariff was set at 2,598.76 ringgit ($795) a metric ton, it said. Indonesia, the top supplier, kept its tax unchanged at 10.5 percent for March from February," Bloomberg said.
View the full article here.
Read Here
Advertise
Sign Up
