Indonesia reviews export tax on crude palm oil

게시됨 2024년 11월 29일

Tridge 요약

Indonesia's palm oil industry is experiencing stable production and export levels, despite a decline in exports due to less competitive prices and economic challenges. The government is set to review the export tax policy every 3-6 months to balance domestic needs and the financial health of the Palm Plantation Fund Management Agency (BPDPKS). A new tariff policy sets the export tax on crude palm oil (CPO) at 7.5%, and will take effect on 21 September 2024. The government will consider domestic and international market conditions when deciding on adjustments to the export tax.

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원본 콘텐츠

Indonesia’s relatively stable domestic CPO production and export levels, combined with rising palm oil prices, suggest that the industry remains competitive in the global market. This review, which will be conducted every 3-6 months, could result in changes to the CPO export tax policy. However, a review is necessary to strike a balance between domestic requirements such as supporting local palm oil producers and maintaining the financial health of the Palm Plantation Fund Management Agency (BPDPKS). This review comes after the Indonesian government implemented a new tariff policy on 11 September 2024, which sets the export tax on CPO at 7.5%, based on a reference price determined by the Ministry of Trade. The new policy, detailed in Finance Ministerial Regulation No. 62/2024, will take effect on 21 September 2024. The policy sets the export tax on palm kernels and palm kernel cake at US$25 per tonne, while taxes on palm oil derivatives are set at 3%, 4.5% or 6%, based on ...

출처: Vinanet