Malaysian Palm oil shipment tax to remain at zero until the end of February
Industry news / Chat on line / Give me a price / Date: February 20, 2016
Palm oil exports from Malaysia, which waived a levy on shipments for the final four months of 2014, will probably remain duty-free until the end of February, as average prices stay below a threshold for a tax to be imposed.
Malaysia removed the duty for September and October and extended the waiver for more months to try to curb the building up of reserves and support prices of its most valuable farm-commodity export.
While the move helped spur a bull market, futures still lost 19% as demand for the tropical oil used in food and biofuels fell amid a global glut and a slump in crude prices. Data yesterday showed Malaysian reserves climbed to the highest level since February 2013.
Shipments from Indonesia are also duty-free as the government kept its tax at zero for December. The country sets its tariff according to a formula based on average prices in Jakarta, Rotterdam and Kuala Lumpur. Crude shipments attract no tax if the average rate is US$750 a tonne or less over a four-week period.
Malaysia's palm oil export price 2013-2014
Malaysia removed the duty for September and October and extended the waiver for more months to try to curb the building up of reserves and support prices of its most valuable farm-commodity export.
While the move helped spur a bull market, futures still lost 19% as demand for the tropical oil used in food and biofuels fell amid a global glut and a slump in crude prices. Data yesterday showed Malaysian reserves climbed to the highest level since February 2013.
Shipments from Indonesia are also duty-free as the government kept its tax at zero for December. The country sets its tariff according to a formula based on average prices in Jakarta, Rotterdam and Kuala Lumpur. Crude shipments attract no tax if the average rate is US$750 a tonne or less over a four-week period.
Malaysia's palm oil export price 2013-2014
contact us
- QDo you want to buy machine?
- Yes, I want to buy machine.
- No, I want to learn more in advance.
- QWhat oil seeds do you want to process?
- Palm fruit
- Palm kernel/nut
- Peanut/Groundnut
- Soybean/Soya bean
- Sunflower seed
- Cottonseed
- Rapeseed/Canola
- Dried coconut
- Rice bran
- Corn germ
- More than two oilseeds:
- Other:
- QHow many tons palm fruit bunches will you process per day?
- 1-10 tons per day
- 10-30 tons per day
- 30-50 tons per day
- 50-100 tons per day
- QWhat machine do you want?
- Palm oil presser
- Other single machine (thresher, clarification tank, vibrating screen, filter...)
- Palm oil pressing line (from FFB to crude oil)
- Palm oil refining line (to produce refined, bleached, deodorized oil)
- Palm oil bottling / filling line
- QWhat machine do you want?
- Palm oil pressing line (from FFB to crude oil)
- Palm oil refining line (to produce refined, bleached, deodorized oil)
- Palm oil bottling / filling line
- QHow many tons oil seeds will you process per day?
- 1-20 tons per day
- 20-50 tons per day
- 50-100 tons per day
- QWhat machine do you want?
- Oil presser
- Other single machine (cracker, crusher, roaster, filter...)
- Oil pressing line (from seeds to crude oil)
- Oil refining line (to produce refined, bleached, deodorized oil)
- Oil bottling / filling line
- QWhat machine do you want?
- Oil presser
- Oil pressing line (from seeds to crude oil)
- Oil solvent extraction line
- Oil refining line (to produce refined, bleached, deodorized oil)
- Oil bottling / filling line
- QWhat machine do you want?
- Oil pressing line (from seeds to crude oil)
- Oil solvent extraction line
- Oil refining line (to produce refined, bleached, deodorized oil)
- Oil bottling / filling line
