date:Oct 15, 2012
h a duty-free shipment quota from 2013. The new rates will range from 4.5 percent to 8.5 percent, rising as prices climb from 2,250 ringgit ($734) a ton to 3,600 ringgit. The existing rate is 23 percent.
Price Plunge
Palm oil for December delivery fell 0.9 percent to end at 2,500 ringgit on the Malaysia Derivatives Exchange last week after the tax changes were unveiled, and the contract declined a further 1.5 percent to 2,462 ringgit at 12:30 p.m. today. Last month, futures dropped 16 percent