Malaysia keeps April crude palm oil export duty at 0%

Malaysia is the world’s 2nd-largest producer of palm oil. (AFP pic)

KUALA LUMPUR: Malaysia kept its export duty on crude palm oil for April at 0%, according to a circular on the Malaysian Palm Oil Board’s website on Wednesday that cited Customs.

The duty has been at 0% since September.

Malaysia, the world’s second-largest producer of palm oil, calculated a palm oil reference price of RM2,056.04 per tonne for April. Any price above RM2,250 incurs a duty.

Malaysian benchmark palm oil futures last fell 1% to RM2,094 a tonne today.