AreaMalaysia
Commodity GroupOilseeds, oils and meals
CommodityPalm oil
Date01/09/2019
Policy CategoryTrade
Policy InstrumentExport policy
DescriptionAnnounced that the variable tax rates set under the country\'s export tax regime for palm oil would be lowered as of 1 January 2020. The measure was aimed at stimulating the countrys palm oil exports.
NotesMALAYSIA export policy (variable palm oil export tax): In a bid to stimulate palm oil shipments, the Government announced the following change in the commoditys 6-year old export tax regime: from 1 January 2020 onward, whenever the oils per tonne benchmark price will fall into the MYR 2 2502 400 range (USD 541577), an export duty of 3 percent will apply as opposed to the current rate of 4.5 percent. In the subsequent tire of MYR 2 4012 550 (USD 578614), the rate will increase to 4.5 percent, and then rise at 0.5 percent increments up to a maximum of 8 percent should prices exceed MYR 3 450 (USD 830) per tonne.