# Malaysia kept export duty on crude palm oil at 8% in May

> Malaysia kept its crude palm oil export duty at 8% for May 2024 and raised the benchmark reference price to 4,273.93 ringgit per ton from 3,958.58 in April. The maximum rate applies when the price exceeds 3,450 ringgit per ton.

- Date: 2024-04-23 · published 2024-04-23T12:00:00.000Z
- Category: policy · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/15652-malaysia-kept-export-duty-on-crude-palm-oil-at-8-in-may
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A higher Malaysian reference price signals firmer export pricing ahead. The unchanged maximum duty means exporters continue to pay the top rate, which supports palm oil prices.

## 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 | 2024-07-19 | [Malaysia keeps August crude palm oil export duty at 8%](https://feedsoft.ai/events/15631-malaysia-keeps-august-crude-palm-oil-export-duty-at-8.md) | -0.1% | -1.0% |
| 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 | 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-kept-export-duty-on-crude-palm-oil-at-8-in-may/

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