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Malaysia keeps Oct crude palm oil export duty at zero percent

Sat, 21st Sep 2019 02:46

KUALA LUMPUR, Sept 21 (Reuters) - Malaysia kept its exportduty on crude palm oil for October unchanged at zero percent,according to a circular on the Malaysian Palm Oil Board'swebsite this week, citing the national customs department.

The duty has been at zero percent since September 2018.

Malaysia, the world's second-largest producer of palm oil,calculated a palm oil reference price of 2,145.75 ringgit pertonne for October. Any price above 2,250 ringgit incurs a duty.

The Southeast Asian country said in May it would defer theimposition of export duties on crude palm oil to Dec. 31 inefforts to boost palm oil exports and expand into new markets.

Malaysian benchmark palm oil futures were last down0.9% at 2,225 ringgit per tonne on Friday at the close.(Reporting by Liz LeeWriting by Emily ChowEditing by Robert Birsel)

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