# Malaysia Keeps June Crude Palm Oil Export Duty At 8%, Raise Reference Price

> Malaysia kept its June 2023 crude palm oil export tax at the maximum 8% and raised the June reference price to RM4,144.31 per tonne from RM4,063.58 in May. The tax structure starts at 3% and reaches 8% when prices exceed RM3,450 per tonne.

- Date: 2023-05-18 · published 2023-05-18T12:00:00.000Z
- Category: policy · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/15730-malaysia-keeps-june-crude-palm-oil-export-duty-at-8-raise-reference-price
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A higher export tax and reference price can cut Malaysian export competitiveness and weigh on palm oil export demand. The effect on prices is modest because the rate was unchanged.

## Read by commodity

- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-12-21 | [Malaysia Keeps January Crude Palm Oil Export Duty at 8%](https://feedsoft.ai/events/15680-malaysia-keeps-january-crude-palm-oil-export-duty-at-8.md) | -0.0% | +1.3% |
| PALMOIL | 2019-05-14 | [Malaysia keeps June crude palm oil export duty at zero percent](https://feedsoft.ai/events/58954-malaysia-keeps-june-crude-palm-oil-export-duty-at-zero-percent.md) | +2.9% | +0.6% |
| PALMOIL | 2023-02-23 | [Malaysia Keeps March Crude Palm Oil Export Duty At 8% – MPOC](https://feedsoft.ai/events/15755-malaysia-keeps-march-crude-palm-oil-export-duty-at-8-mpoc.md) | +1.0% | -4.6% |
| PALMOIL | 2024-08-21 | [Malaysia keeps September crude palm oil export duty at 8%](https://feedsoft.ai/events/15627-malaysia-keeps-september-crude-palm-oil-export-duty-at-8.md) | +1.7% | +6.5% |
| PALMOIL | 2023-08-24 | [Malaysia Keeps September Crude Palm Oil Export Duty At 8% – MPOC](https://feedsoft.ai/events/15708-malaysia-keeps-september-crude-palm-oil-export-duty-at-8-mpoc.md) | +0.7% | -2.8% |

## Sources

- businesstoday.com.my: https://www.businesstoday.com.my/2023/05/18/malaysia-keeps-june-crude-palm-oil-export-duty-at-8-raise-reference-price/

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