Indonesia plans to raise palm oil export levy to 4.5% to 10%, official says
Indonesia plans to increase its palm oil export levy to 4.5% to 10% of the CPO reference price, up from the current 3% to 7.5%. The move aims to finance the mandatory rise in palm oil use for biodiesel production. The new levy will be implemented three days after the regulation is finalized, according to Plantation Fund Agency director Kabul Wijayanto.
JAKARTA – Indonesia plans to raise its palm oil export levy to between 4.5% to 10% of the CPO reference price, up from 3% to 7.5%, to finance a mandated increase in the amount of palm oil used in biodiesel, a plantation fund official said on Tuesday.
Kabul Wijayanto, director at the Plantation Fund Agency, said authorities will impose the new levy three days after the regulation is issued, which is still being processed.
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Source : Market Screener
