# Malaysia will not remove windfall tax on palm industry: state media - The Business Times

> Malaysia's finance ministry said it will not abolish the windfall profit levy on palm oil, which applies a 3% rate to prices above RM3,000 per ton in Peninsular Malaysia and RM3,500 per ton in Sabah and Sarawak. The ministry said it would periodically review the rate and threshold, and the plantations ministry is reviewing the tax with completion targeted for next year.

- Date: 2023-10-27 · published 2023-10-27T12:00:00.000Z
- Category: policy · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/15697-malaysia-will-not-remove-windfall-tax-on-palm-industry-state-media-the-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Keeping the levy preserves a cost burden on planters, which could slightly constrain output growth over time. The near-term impact on palm oil prices is limited because no rate change has been made.

## Read by commodity

- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-09-18 | [Malaysia reviewing windfall tax on palm oil industry  - The Business Times](https://feedsoft.ai/events/15705-malaysia-reviewing-windfall-tax-on-palm-oil-industry-the-business-times.md) | -1.6% | -4.3% |
| PALMOIL | 2020-11-30 | [Malaysia says no decision to extend palm oil export tax exemption beyond 2020 - The Business Times](https://feedsoft.ai/events/50045-malaysia-says-no-decision-to-extend-palm-oil-export-tax-exemption-beyond-2020.md) | +4.7% | +6.7% |
| PALMOIL | 2020-04-12 | [Malaysia cuts crude palm oil export duty for May to 4.5% - The Business Times](https://feedsoft.ai/events/53507-malaysia-cuts-crude-palm-oil-export-duty-for-may-to-4-5-the-business-times.md) | -1.4% | -11.4% |
| PALMOIL | 2019-05-27 | [Malaysia, Indonesia to talk on retaliatory moves for palm oil](https://feedsoft.ai/events/58959-malaysia-indonesia-to-talk-on-retaliatory-moves-for-palm-oil.md) | -0.1% | -0.3% |
| PALMOIL | 2023-01-27 | [Indonesia wants palm oil exporters to trade on local exchanges - The Business Times](https://feedsoft.ai/events/15762-indonesia-wants-palm-oil-exporters-to-trade-on-local-exchanges-the-business.md) | -1.9% | +2.1% |

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/international/asean/malaysia-will-not-remove-windfall-tax-palm-industry-state-media

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