# Higher CPO export tax to encourage local downstream refining, says Johari Ghani

> Malaysia's Plantations and Commodities Minister Johari Abdul Ghani said the higher crude palm oil export tax is meant to encourage domestic processing instead of exporting crude oil. MPOB director-general Ahmad Parveez Ghulam Kadir said the change would reduce the volume of crude palm oil exported. The revised tax brackets rise to 10 percent for prices above RM4,050 per tonne, effective November 1.

- Date: 2024-10-22 · published 2024-10-22T12:00:00.000Z
- Category: policy · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/15612-higher-cpo-export-tax-to-encourage-local-downstream-refining-says-johari-ghani
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Officials expect less crude palm oil to be exported, which reduces supply on the world market and tends to weigh on international prices. Boosting domestic refining could also lift Malaysian processed palm product output.

## Read by commodity

- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2024-10-18 | [CPO export duty rates revised to ensure domestic supply, says finance ministry \| FMT](https://feedsoft.ai/events/15614-cpo-export-duty-rates-revised-to-ensure-domestic-supply-says-finance-ministry.md) | +1.7% | +11.7% |
| PALMOIL | 2017-06-16 | [Malaysia to raise CPO export tax next month \| The Star](https://feedsoft.ai/events/70365-malaysia-to-raise-cpo-export-tax-next-month-the-star.md) | -1.1% | +2.2% |
| PALMOIL | 2026-10-20 | [CPO export tax waiver could help Malaysia regain market share from Indonesia](https://feedsoft.ai/events/15439-cpo-export-tax-waiver-could-help-malaysia-regain-market-share-from-indonesia.md) | -0.2% | — |
| PALMOIL | 2020-03-16 | [Malaysia to cut CPO export tax to 5% in April following lower prices in Q1  : The Daily Digest](https://feedsoft.ai/events/54011-malaysia-to-cut-cpo-export-tax-to-5-in-april-following-lower-prices-in-q1-the.md) | -1.5% | -4.6% |
| PALMOIL | 2018-08-02 | [PORAM: Review Malaysia's CPO export duties to level playing field with Indonesia](https://feedsoft.ai/events/63400-poram-review-malaysia-s-cpo-export-duties-to-level-playing-field-with-indonesia.md) | +1.2% | -0.2% |

## Sources

- theedgemalaysia.com: https://theedgemalaysia.com/node/731097

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.