Malaysia lowers June crude palm oil export tax to 6 pct - govt circular

KUALA LUMPUR: Malaysia, the world's second-biggest palm oil maker after Indonesia, will bring down its unrefined palm send out expense for a third sequential month to 6 percent in June, down from 7 percent in May, as indicated by a round from the Malaysian Palm Oil Board on Friday. 

The Southeast Asian country computed a palm oil reference cost of 2,844.79 ringgit ($657.53) per ton for June. A cost over 2,250 ringgit acquires a duty, which begins from 4.5 percent and can achieve a greatest of 8.5 percent. 

Malaysia had brought down the assessment in May, down from 7.5 percent in April. 

Palm oil benchmark costs have slid around 16 percent since the begin of the year on worries of rising yield. It was last down 0.8 percent at 2,606 ringgit.

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