# Malaysia keeps May crude palm oil export duty at 8% - Markets - Business Recorder

> Malaysia kept its May crude palm oil export tax at 8% and raised the reference price to 4,063.58 ringgit per tonne from 4,031.45 in April. The tax structure starts at 3% and reaches its 8% maximum when prices exceed 3,450 ringgit per tonne. The article was published by Reuters on 17 April 2023.

- Date: 2023-04-17 · published 2023-04-17T12:00:00.000Z
- Category: policy · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/15742-malaysia-keeps-may-crude-palm-oil-export-duty-at-8-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

The export tax is already at its maximum rate, so the small reference price increase has little effect on export flows. The move is routine and unlikely to shift prices.

## Read by commodity

- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-10-17 | [Malaysia keeps November crude palm oil export duty at 8% - Markets - Business Recorder](https://feedsoft.ai/events/15693-malaysia-keeps-november-crude-palm-oil-export-duty-at-8-markets-business.md) | -0.6% | +2.6% |
| PALMOIL | 2024-01-23 | [Malaysia keeps February crude palm oil export duty at 8% - Markets - Business Recorder](https://feedsoft.ai/events/15671-malaysia-keeps-february-crude-palm-oil-export-duty-at-8-markets-business.md) | +0.4% | -0.9% |
| 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 | 2023-12-21 | [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% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40237583

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