KUALA LUMPUR: Malaysia has kept its March export tax for crude palm oil at 8%, a circular on the Malaysian Palm Oil Board website showed on Thursday.

The world's second-largest palm exporter calculated a reference price of 3,977.36 ringgit per tonne for March.

The export tax structure starts at 3% for crude palm oil in a 2,250 to 2,400 ringgit-per-tonne range. The maximum tax rate is set at 8% when prices exceed 3,450 ringgit a tonne.