Malaysia Suspends CPO Export Duty Till Yearend

Malaysia’s Primary Industries Minister Teresa Kok has urged exporters to take advantage of the seven-month-long extension of the export duty exemption on crude palm oil (CPO) from May 1, 2019.  Kok said the tax free window period would enable the industry to plan more carefully on how to raise exports and open new markets for Malaysia’s palm oil.  She said her ministry is very concerned about the industry’s current situation with the palm oil stock level at 2.92 million tons on March 31, 2019 and the CPO price on April 26, 2019 at RM2,014.50 per ton.  

The suspension follows Indonesia’s decision to revise its CPO export duty structure and keep it at zero until end of this month - May.  It will revert to the existing export duty schedule for CPO on June 01, 2019.