KUALA LUMPUR: Exporters of crude palm oil (CPO) have been exempted from paying any export duty efffective from Sept 1, said Plantation Industries and Commodities minister Datuk Amar Douglas Uggah Embas.

The export duty exemption on CPO to exporters will be for a period starting September to October as part of the Government’s effort to mitigate further decline in the price of the commodity, he said at a press briefing prior to attending the Palm Oil Leadership Award (PILA) dinner hosted by the Malaysian Palm Oil Council (MPOC) on Thursday.

The CPO export duty rate for September was earlier gazetted at 4.5 %. The rates are set based on the average price of CPO in last 15 days of July and the first 15 days of August.

Source : The Star