Malaysia March CPO export tax retained at 8% but on a higher reference price | CPO export tax March 2022

Malaysia CPO export tax was retained at the top rate of 8% for the 15th month straight after the calculated CPO reference price was RM5277.48/ton (US$1262) up 7.55% from RM4907.14/ton. The duty payable on CPO on March shipment will be RM422.21 or US$100.98 from US$93.89 in February. March reference price rebounded after a dip in February following escalating local and international price quotations. The tax rate on CPKO and RBPKO is kept flat at 10% and 5% respectively on a ton of shipment.

Indonesia will be announcing their March CPO reference price and export tax next week. The tax and levy rate is likely to be kept unchanged at the top level.