Sun, 02 Oct 2022

JAKARTA, Aug. 9 (Xinhua) -- Starting Tuesday, Indonesia lowered the reference threshold for crude palm oil (CPO) export tax to 680 U.S. dollars per ton from 750 dollars per ton, according to the Finance Ministry.

Under the new policy, CPO export and its derivative products, refined, bleached and deodorised (RBD) palm oil, and RBD palm olein, will get zero tax if reference price is set at lower than 680 dollars per ton.

When the reference is set above 680 dollars, the export tax will be set at a minimum of three dollars per ton and a maximum of 288 dollars per ton, according to the regulation.

"In order to anticipate price changes in the international market and to be in line with the policy for downstreaming agricultural and forestry products, it is necessary to adjust the reference price ranges," said the regulation.

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