Malaysia sets February export tax for crude palm oil at 6%

KUALA LUMPUR, Jan 17 (Reuters) - Malaysia has raised its export tax for crude palm oil to 6% for February, the Malaysian Palm Oil Board said on Friday, citing the national customs department.

The world's second-largest producer and exporter of palm oil calculated a reference price of 2,907.63 ringgit per tonne for next month.

Malaysia had set the export tax for January at 5%, raising it after placing a tax-free exemption on crude palm oil from May to December 2019 in a move to boost palm oil exports and expand into new markets. (Reporting by Mei Mei Chu; Editing by Alex Richardson)