Malaysia Government Plans to Cut Palm Oil Export Duty

Malaysia officials notified about the possible cut in palm oil export duty to 4-6% from current slab of 8%. Malaysia has the opportunity to grab the global Palm oil market share as Indonesia banned the exports of Palm oil. Malaysia may slow down the implementation of B30 Biodisel mandate to prioritize global palm oil supply and local use.

Malaysia has entered high palm fruit bunch production months, leading to higher end stocks, while exports has significantly lowered down due to higher prices. Malaysia is likely to revised their export policy to tap the global palm oil market.