Indonesia: BPDP coverage expanded, here are the hopes of palm oil and cocoa entrepreneurs

Published 2024년 10월 25일

Tridge summary

The Indonesian government has replaced the Palm Oil Plantation Fund Management Agency (BPDPKS) with the Plantation Fund Management Agency (BPDP), expanding its scope to manage funds from palm oil, cocoa, and coconut commodities. This change is outlined in Presidential Regulation No. 132 of 2024, which also details the collection of funds from plantation business actors, financing institutions, community funds, and other legitimate sources. The funds am amassed will be used for the development of plantation human resources, research and development, promotion, rejuvenation, and infrastructure. Both the Indonesian Palm Oil Entrepreneurs Association (Gapki) and the Indonesian Cocoa Council (Dekaindo) express support for the new agency and its expanded mandate, emphasizing the importance of efficient management of levied funds to bolster the production of palm oil, cocoa, and other plantation crops, and to reduce reliance on imports.

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Original content

Reporter: Dimas Andi, Leni Wandira | Editor: Tri Sulistiowati KONTAN.CO.ID - JAKARTA. The government has officially replaced the Palm Oil Plantation Fund Management Agency (BPDPKS) with the Plantation Fund Management Agency (BPDP). This change is accompanied by an expansion of the agency's function which now not only manages funds from palm oil commodities, but also cocoa and coconut. This change in agency is stated in Presidential Regulation No. 132 of 2024 which was signed by the 7th President of the Republic of Indonesia Joko Widodo on October 18, 2024, or two days before he stepped down. In this policy, the collection of funds by BPDP will come from plantation business actors, funds from financing institutions, community funds, and other legitimate funds. Funds sourced from business actors include export levies on plantation products and/or derivatives and contributions. The export levy on this commodity must be paid by plantation business actors who export, industrial actors ...

Source: Kontan