The customs notice released on the website of the Malaysian Palm Oil Board (MPOB) stated that Malaysia has set the export tax on crude palm oil for June at 9.5%, lower than the 10% in May.
The reference price for crude palm oil in June was set at 3,926.59 ringgit per ton (914.9 US dollars), lower than the reference price of 4,449.35 ringgit per ton in May (1,008.2 US dollars, at the time the exchange rate was 1 US dollar to 4.413 ringgit). This means that the palm oil export tax levied in June was $86.9 per ton, a decrease of 13.8% from $100.8 in May.
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