# Malaysia keeps August crude palm oil export duty at 8%

> Malaysia kept its August 2024 crude palm oil export duty at 8%, the maximum rate. The government raised the August reference price to 3,880.86 ringgit per ton from 3,839.63 in July, as shown in a Malaysian Palm Oil Board circular.

- Date: 2024-07-19 · published 2024-07-19T12:00:00.000Z
- Category: policy · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/15631-malaysia-keeps-august-crude-palm-oil-export-duty-at-8
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

The export duty is tied to the reference price, and a rate held at the 8% cap signals firm palm prices. Higher duties on Malaysian exports can shift demand toward Indonesia and weigh on Malaysian export competitiveness.

## Read by commodity

- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-03-23 | [Malaysia keeps April crude palm oil export duty at 8%](https://feedsoft.ai/events/15749-malaysia-keeps-april-crude-palm-oil-export-duty-at-8.md) | +0.2% | -2.7% |
| PALMOIL | 2023-11-24 | [Malaysia keeps December crude palm oil export duty at 8.0%](https://feedsoft.ai/events/15686-malaysia-keeps-december-crude-palm-oil-export-duty-at-8-0.md) | -0.7% | -3.3% |
| PALMOIL | 2021-09-20 | [Malaysia keeps Oct crude palm oil export tax at 8%](https://feedsoft.ai/events/44940-malaysia-keeps-oct-crude-palm-oil-export-tax-at-8.md) | +1.0% | +12.6% |
| PALMOIL | 2024-04-23 | [Malaysia kept export duty on crude palm oil at 8% in May](https://feedsoft.ai/events/15652-malaysia-kept-export-duty-on-crude-palm-oil-at-8-in-may.md) | -0.1% | -4.7% |
| PALMOIL | 2021-03-17 | [Malaysia maintains April crude palm oil export duty at 8% - Markets - Business Recorder](https://feedsoft.ai/events/47980-malaysia-maintains-april-crude-palm-oil-export-duty-at-8-markets-business.md) | -0.1% | -7.0% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/malaysia-keeps-august-crude-palm-oil-export-duty-at-8/

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