Malaysia keeps Feb crude palm oil export tax at 0 pc

KUALA LUMPUR: Malaysia kept its export tax on crude palm oil for February at zero percent, according to a circular on the Malaysian Palm Oil Board's website on Wednesday that cited the national customs department.

The tax has been at zero percent since September.

Malaysia, the world's second-largest producer of palm oil, calculated a palm oil reference price of 1,904.44 ringgit ($463.48) per tonne for February. Any price above 2,250 ringgit incurs a tax.

Malaysian benchmark palm oil futures were down slightly at 2,182 ringgit a tonne on Wednesday.