Trade and markets
 

Detail

Area
Malaysia
Commodity Group
Oilseeds, oils and meals
Commodity
Palm oil
Date
01/06/2017
Policy Category
Trade
Policy Instrument
Export policy
Description
Left in place the country\'s sliding export tax regime for palm oil, which is aimed at protecting the interests of domestic producers and consumers.
Notes
After standing at 8 percent in February and March, Malaysia’s export tax on crude palm oil shipments has been lowered three times, mirroring the gradual decline in the commodity’s world price (and hence in the official benchmark price used to determine the sliding tax rate). In April, May and June 2017, the export tax stood at, respectively, 7.5 percent, 7 percent and 6 percent. In Malaysia, by contrast, the variable tax for July has been raised to 6.5 percent (compared to 6 percent in June), mirroring a small increase in the relevant benchmark price for crude palm oil. In Malaysia, the variable tax for August has been lowered to 5.5 percent (compared with 6.5 percent in July), mirroring a drop in the relevant benchmark price for crude palm oil. In Malaysia, the variable tax for October will be raised to 6 percent (up from 5.5 percent in the previous month), reflecting an increase in the relevant benchmark price.