PHOTO
Image used for illustrative purpose. Gas flares at a Refinery and Petrochemical Integrated Development (RAPID) oil refinery at Pengerang Integrated Petroleum Complex in Pengerang, Malaysia February 26, 2019. Edgar Su, Reuters
Malaysia has maintained its April export tax for crude palm oil at 8% and raised its reference price, a circular on the Malaysian Palm Oil Board website showed on Thursday.
The world's second largest palm exporter calculated a reference price of 4,031.45 ringgit ($914.16) per tonne for April. The March reference price was 3710.35 ringgit a tonne.
The export tax structure starts at 3% for crude palm oil in a 2,250 to 2,400 ringgit-per-tonne range. The maximum tax rate is set at 8% when prices exceed 3,450 ringgit a tonne.
($1 = 4.4100 ringgit) (Reporting by)