KUALA LUMPUR, Oct 4 (Reuters) - Malaysia will cut crude palm oil (CPO) export taxes and discontinue a tax free shipment quota for the grade from Jan 1 2013, a government minister said on Friday, as the world's No.2 producer seeks to snatch back market share from top producer Indonesia.
"The implementation of reduced export duty on CPO will also allow the refineries in Malaysia to market their products at competitive prices to the global markets," Commodities Minister Benard Dompok said in a statement.
"In tandem with reduced CPO export duty, the government will discontinue with the duty free CPO export facility beginning 1 January 2013," he said after Malaysia's cabinet met earlier in the day to discuss measures to support the palm oil sector.
Dompok did not disclose the quantum of the cut in crude palm oil export taxes from the current 23 percent duty.
