Oleochem Analytics — Malaysia has kept its September export duty for crude palm oil (CPO) at 8%, although it rose the reference price, a circular on the Malaysian Palm Oil Board website showed on August 18.
The world’s second-largest palm oil producer calculated a reference price of 4,255.52 ringgit/ton in September, up from 3,975.92 ringgit in August.
Malaysia CPO reference price for August suffered a huge fall after 13 months of a continued surge, reaching 4,668.15 ringgit/ton in July. The last time such a low reference price was calculated was back in February 2021, when the CPO reference price was at 3,657.67 ringgit.
