KUALA LUMPUR: Malaysia has raised its October crude palm oil reference price to a level that maintains the export duty range at 10 per cent, a statement by the Malaysian Palm Oil Board showed on Friday.

The world's second largest palm exporter calculated a reference price of RM4,268.68 ringgit (US$1,015.87) per metric ton for October. The September reference price was RM4,053.43 a tonne, and incurred a duty of 10 per cent.

The export tax structure starts at three per cent for crude palm oil in a RM2,250 to RM2,400 per-tonne range. The maximum tax rate is set at 10 per cent when prices exceed RM4,050 a tonne.