Malaysia stored its export obligation on crude palm oil for April at 0 percent, according to a circular issued by way of the national customs department.
The duty has been at 0 percentage considering that September.
Malaysia, the sector’s 2d-largest producer of palm oil, calculated a palm oil reference price of two,056.04 ringgit ($502.70) consistent with tonne for April. Any charge above 2,250 ringgit incurs a responsibility.
Exports of Malaysian palm oil products for March 1-10 rose 10.7 percent to 435,464 tonnes from 393,353 tonnes shipped all through Feb. 1-10, cargo surveyor Intertek Testing Services stated.
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