XINHUA/Indonesia's crude palm oil export tax steady at 15 pct for Sept.
Indonesia's crude palm oil export tax steady at 15 pct for Sept.
JAKARTA, (Xinhua) The Indonesian government has decided the export tax of crude palm oil (CPO) for September unchanged at 15 percent as the price of the commodity in the global market is relatively stable, an official from the trade ministry said here on Tuesday.
Director General for Foreign Trade of Trade Ministry Deddy Saleh told Xinhua by phone that the reference price of the commodity in the international market in Rotterdam was now at 1, 085.14 U.S. dollars per ton, slightly lower than 1,089.37 U.S. dollars per ton in July.
"The export tax of CPO has therefore been unchanged at 15 percent, similar with that of August," he said.
The trade ministry and industry ministry jointly decide the export tariff of palm oil for the following month by using the average prices of the commodity in Rotterdam in the preceding month as reference price.
In July, the export tax was 20 percent, in June, 17.5 percent, much lower than March's 25 percent, the highest this year, according to the trade ministry.
The export tax is aimed at securing domestic supply, stabilizing cooking oil prices and boosting downstream industry.
Indonesia is the world's largest palm oil producer.