What are export duties

What are export duties?

Export duties are generally imposed on the country’s main commodities such as crude petroleum and palm oil. With the exception of crude petroleum, which is subject to duty at a flat rate of 10%, duties on all other commodities are based on the cost plus concept. This means that the duties on such commodities are only imposed on the excess of a threshold price which reflects the cost of production of each of the commodities. No export duties are collected when the prices of the commodities fall below the threshold.

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