ANNOUNCED AS TEMPORARYYes
On 5 January 2018, Malaysia announced a 3-month duty-free period of crude palm oil ("CPO") starting 8 January 2018. The move aimed to support CPO prices, as the CPO stockpile reached a high of 2.56 million tonnes, which exceeding its exports of 2 million tonnes.
Prior to January 2018, the duty had temporarily been set at 6% for a period of one month.
On 6 April 2018, Malaysia announced the extension of a 3-month duty-free period of crude palm oil ("CPO") implemented from early-January. The extension is set to end on 30 April 2018.
The Malaysian palm oil crude export tax is based on a variable scheme, which is determined by the set CPO market price set by the Malaysian government. For the period of January to April 2018, the Malaysian government announced a monthly CPO market price of crude palm oil ("CPO") of MYR 2623.31 (USD 642.82), MYR 2526.61 (USD 637.89), MYR 2416.24 (USD 618.20) and MYR 2474.63 (USD 638.11) per tonne, respectively. As such, the export duties would have amounted to 5.5% for January 2018, and 5.0% for the rest of the months.
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