According to CoinMeta, the website of the Malaysian Palm Oil Board ( MPOB ) issued a notice on Wednesday, announcing a reduction in the reference price of crude palm oil for December to 4,259.70 Ringgit per ton, and the reference price for November was 4,323.78 Ringgit. Since the price is still in a relatively high range, the export tax remains at 10%. Malaysia implements a tiered export tax rate for crude palm oil: when the reference price is between 2,250 and 2,400 Ringgit per ton, the tax rate is 3%; when the price exceeds 4,050 Ringgit per ton, the highest tax rate of 10% applies.