ANNOUNCEMENT 18 Dec 2012In December 2012, the government of Malaysia announced a change in export taxation.
NUMBER OF INTERVENTIONS
Malaysian Royal Customs Department, announcement: http://bepi.mpob.gov.my/images/ExportDuties/EXPORT_DUTY_RATE_JAN_2013.pdf
Business Standard, December 18, 2012, 'Malaysia sets zero export tax for crude palm oil to cut reserves': http://www.business-standard.com/india/news/malaysia-sets-zero-export-tax-for-crude-palm-oil-to-cut-reserves-/495918/
MY Palm Oil Blog, December 18, 2012, 'Palm oil refiners heave a sigh of relief': http://mypalmoil.blogspot.ch/2012/12/palm-oil-refiners-heave-sigh-of-relief.html
Biz TheStar online, announcement of extension: http://biz.thestar.com.my/news/story.asp?file=/2013/1/15/business/20130115120647&sec=business
On December 18, 2012, the Malaysian Ministry of Plantation Industries and Commodities announced its export duty structure for crude palm oil for 2013. For values below 2,250 ringgit (RM) per metric tonne, no export duty is to be levied - and the reference price for crude palm oil is set at RM 2,147.81 for January 2013. In other words, no export duty will be levied during the month of January. According to various internet sources (see the 'sources' section), this will decrease the existing stockpiles ofcrude palm oil and induce a movement towards higher prices as determined by the market.
On January 15, 2013, the Malaysian government announced the extension of the duty-free period until the end of February.