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INDONESIAN GOVT ANNOUNCES PROGRESSIVE INCREASE IN CPO EXPORT TAX.
JAKARTA, Sept 3 Asia Pulse - The government has announced a progressive increase in the prices of crude palm oil (CPO) and derivatives to as high as 10 per cent if the price of the commodity is US$850 or higher per ton.
The export tax is zero if the price is less than US$550 a ton, 2.5 per cent if the price is 550-649 per cent, 5 per cent if the price is US$650-US$749 and US$7.5 per cent if the price is US$750-US$849 per ton.
Prices of the commodity last weekend stood at US$700-US$750 a ton in the world market, the Indonesian association of palm oil companies (Gapki) said.
The announcement also said the exports tax on oil palm fresh fruit bunches and palm kernel is set at 40 per ...
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