Govt maintains CPO price<\/p>\n
JAKARTA (JP): The government has decided not to change the
\nbenchmark prices of crude palm oil (CPO) and its derivatives in
\nJanuary due to the commodity's stability last month.<\/p>\n
The Ministry of Industry and Trade's International Trading
\nDirector General, Djoko Moeljono, said the standard prices, which
\nare fixed every month as the base in calculating export tax
\npayment from CPO commodity, remained the same also due to the
\nrelatively stable exchange rate of the rupiah against the U.S.
\ndollar.<\/p>\n
The standard price for CPO in January will stay at US$120 per
\nmetric ton, and its derivatives such as refined bleached
\ndeodorized palm oil at $140, crude olein at $150, refined
\nbleached deodorized palm olein at $165 and fresh fruit bunches at
\n$25.<\/p>\n
The government gradually lowered export tariffs for the
\ncommodity to up to 10 percent recently from as high as 60 percent
\nin early 1998 to secure enough supplies for the domestic market.<\/p>\n
In 1999, Indonesia produced 5.7 million tons of CPO, which was
\n6.3 percent higher than 1998's output of five million tons.<\/p>\n
The international price of CPO reached $600 in early 1999 but
\ndropped by over 60 percent to $350 in August.<\/p>\n
Official data shows that Indonesia's total CPO export
\nincreased significantly to over one million tons worth $445.9
\nmillion in the first semester this year from 473,978 tons worth
\n$238.9 million. (06)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/govt-maintains-cpo-price-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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