KUALA LUMPUR (March 13): Malaysia kept its export duty on crude palm oil for April at zero percent, according to a circular on the Malaysian Palm Oil Board's website on Wednesday that cited the national customs department.
The duty has been at zero percent since September.
Malaysia, the world's second-largest producer of palm oil, calculated a palm oil reference price of RM2,056.04 (US$502.70) per tonne for April. Any price above RM2,250 incurs a duty.
Malaysian benchmark palm oil futures last fell 1.0% to RM2,094 a tonne on Wednesday.
(US$1 = RM4.0900)