Malaysia CPO export tax retained at 8% for the eleventh straight month | Malaysia Nov ref

Malaysia retained its CPO export tax at the highest band of 8% for the eleventh successive month for November shipment after the calculated reference price came to RM4523.29/ton (US$1084/ton) or up RM50.83 to RM 361.86 (US$86.72) from October, rising for the third consecutive month.

The duty payable is higher by RM4.00 or just a Dollar per per-ton of CPO from the previous month. The marginal rise will not have a major impact on CPO exports which is already trading at record high prices.

Indonesia is expected to announce its November export tax and levy in 2 weeks.