Malaysia’s CPO export tax was retained at 8% for the ninth successive month after the calculated reference price rebounded to rise to RM 4255.52/ton for September shipment from RM3975.92/ton (US$941) in AUgust or 7.04% higher than the previous month. The rise reverses the first fall in reference price seen in July after 13 straight months of rise. The duty payable on CPO export will be RM340.40 (US$80.50) for the September shipment. The duty was RM318.04 in August.
Malaysia’s progressive CPO export tax starts at 3% when the monthly reference price exceeds RM2250/ton rising to the highest tax band of 8% when prices are above RM3450/ton. The tax rate on CPKO is kept flat at 10% and RBDPKO at 5% respectively.
Indonesia will be announcing their CPO export tax next week, expected to move higher, while the levy to stays unchanged.