Indonesia: Export levies reapplied on the palm oil sector

Published 2022년 12월 12일

Tridge summary

The Indonesian government has reintroduced export levies on palm products from November 16. This move, which is welcomed by local palm oil entrepreneurs due to increased prices, aims to support the palm oil industry, a key contributor to the country's economy. The policy's effectiveness and its impact on raising the domestic price of fresh fruit bunches and boosting exports are being monitored. The continuation of these policies and the potential cessation of the zero levy depending on these outcomes is under discussion.

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Original content

Reporter: Ratih Waseso | Editor: Tendi Mahadi KONTAN.CO.ID - JAKARTA. The government has again imposed export levies on palm products since November 16. Secretary General of the Indonesian Palm Oil Producers Association (Gapki) Eddy Martono said palm oil entrepreneurs had no problem with this. Because the price of palm oil is now better than before. "It doesn't matter because the price has gone up compared to before. At that time, the Rotterdam price was below US$ 900. Today the price is around US$ 1,000," said Eddy, Monday (12/12). In the future, Eddy said, Gapki hopes that the existing policies will continue to support the palm oil industry. The reason, according to Eddy, the palm oil industry is one of the mainstay industries for the Indonesian economy. So a pro-industry policy is needed. Moreover, there are still attacks from outside on Indonesian palm oil that never stop. In fact, Eddy said that the certification of Indonesian Sustainable Palm Oil (ISPO) had not stopped the ...

Source: Kontan