Trade and markets
 

Detail

Area
Malaysia
Commodity Group
Oilseeds, oils and meals
Commodity
Palm oil
Date
01/10/2014
Policy Category
Trade
Policy Instrument
Export tax
Description
Extended tax exemption on palm oil till the end of the year.
Notes
In early September, the government suspended its variable tax on crude palm oil (CPO) exports for two months to encourage shipments amid weak demand and swelling stockpiles. Prior to September, CPO exports attracted ad valorem taxes between 4.5% and 5.5%. The decision to temporarily suspend taxation was taken with a view to mitigating the on-going decline in CPO prices. In mid October, as CPO prices failed to recover, the government chose to extend the tax exemption until the end of this year.