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Malaysia seeks palm balance

This article was originally published in The Public Ledger

MALAYSIA may announce a plan in the near future to compete with top palm oil supplier Indonesia which reformed its export taxes to boost its refining industry, the Malaysia Palm Oil Board said. In October, Indonesia cut maximum export duties on refined, bleached and deodorised (RBD) palm oil to 10% from 23%. The rate for RBD palm olein was cut to 13% from 25%, while the highest tax for crude palm oil exports was set at 22.5%.


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