JAKARTA, Indonesia is set to collect an
up to $50 per tonne export levy on palm oil in January.
The reference price for crude palm oil (CPO) has been set at
$729.72 per tonne for January, the trade ministry said in a
statement on Friday.
Under current rules, the world's top palm oil producer
collects export tax when its CPO reference price is above a
$750-per-tonne threshold and levies when it is above $570 per
Levies of $10-$25 per tonne should be collected from exports
of palm oil and its derivatives when the reference price is
above that threshold and this would go up to $20-$50 per tonne
when prices top $619 per tonne.
The government had, however, relieved exporters of levies in
the past few months to protect farmers, and said it would begin
collecting again in January. nL3N26F2IP
December's reference price was $650.18 a tonne. nL4N28D1DP
The government will also keep cocoa bean export tax at 5% in
January, the ministry said in the statement.
Source: ASEAN Exchanges