Indonesia: CPO exports only pay US$18/ton of export duties

Jakarta, CNBC Indonesia - The government has decided to remain zero on the export levy (PE) of the Public Service Agency (BLU) of the Palm Oil Plantation Fund Management Agency (BPDPKS). Previously, this zero PE rate was set to be valid until October 31, 2022. Coordinating Minister for the Economy Airlangga Hartarto said the decision was in response to the market index price (HIP) of biodiesel which was still lower than the HIP of diesel so that there was no biodiesel incentive payment. "We maintain this incentive, the tariff of US$0 per ton is extended until the reference price is greater than or equal to US$800 per tonne. Once the price rises to US$800 per tonne, the PE tariff of US$0 per tonne does not apply," said Airlangga in a written statement, quoted Tuesday (1/11/2022). Although the Minister of Finance Regulation (PMK) for the policy has not yet been issued, Airlangga said, the zero PE decision will take effect from November 1, 2022 at 00.00 WIB. That way, every palm oil ...