Oleochem Analytics — Malaysia has kept its August export duty for crude palm oil (CPO) at 8%, although it lowered the reference price for the first time in 13 months, a circular on the Malaysian Palm Oil Board website showed on 23 July.
The world’s second-largest palm oil producer calculated a reference price of 3,975.92 ringgit/ton in August, down from 4,668.15 ringgit in July.
The last time a reference price was calculated so low was for February 2021, when CPO reference price was at 3,657.67 ringgit/ton.
