Source: Ukragroconsult (Ukraine)
Malaysia raises palm oil export tax for the upcoming month. Specifically, the Malaysian Palm Oil Board (MPOB) issued a customs notice stating that the export tax on crude palm oil for April has been set at 9.5%. Furthermore, this is up from 9.0% in March.
Benchmark Price and Tax Calculation
In its statement, the MPOB stated that the benchmark price of crude palm oil for April 2026 was set at 3,935.19 ringgit per tonne (US$999.29). Moreover, this is up from 3,896.09 ringgit per tonne (US$998.23) in March, when the exchange rate was 3.903 ringgit per US dollar. Consequently, this means the palm oil export tax levied in April was US$94.93 per tonne. Furthermore, this represents an increase of 5.67% from the previous month.
Malaysia Raises Palm Oil Export Tax: Market Impact
In April, the Malaysian Palm Oil Board (MPOB) increased the export tax on crude palm oil from 9.0% to 9.5%. Additionally, this raised the benchmark price to 3,935.19 ringgit per tonne. Moreover, it increased the export tax by 5.67% compared to the previous month. Furthermore, this policy increases export costs and could suppress international demand. Consequently, this may lead to inventory accumulation and oversupply in producing countries. Additionally, this puts downward pressure on palm oil spot prices.