KUALA LUMPUR (May 18): Malaysia has maintained its June export tax for crude palm oil at 8% and raised its reference price, a circular on the Malaysian Palm Oil Board website showed on Thursday (May 18).

The world's second largest palm exporter calculated a reference price of RM4,144.31 per tonne for June. The May reference price was RM4,063.58.

The export tax structure starts at 3% for crude palm oil in a RM2,250- to RM2,400-per-tonne range. The maximum tax rate is set at 8% when prices exceed RM3,450 a tonne.