indonesia presses to cut import/duty on palm oil in Sri Lanka

Indonesia lowers palm oil levy to boost exports

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Indonesia rolled out a new rule on Thursday that imposes a 7.5 percent levy on CPO exports to increase the commodity's global competitiveness amid declining demand

Agriculture Minister Andi Amran Sulaiman said on Tuesday that the government planned to cut CPO exports by 5.3 million tonnes annually, starting next year, as part of the

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President Jokowi Asks Sri Lanka to Lift Ban on

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"Palm oil is Indonesian leading commodity that is produced with due regard to environmental standards. I propose that we establish a special mechanism to reopen market access for Indonesian palm oil in Sri Lanka," the

Indonesia's finance ministry has announced that the maximum export levy on crude palm oil will be reduced to $175/mt when palm prices exceed $1,000/mt, sources told

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Indonesia to cut crude palm oil export levy to $175/mt: sources

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Indonesia's finance ministry has announced that the maximum export levy on crude palm oil will be reduced to $175/mt when palm prices exceed $1,000/mt, sources told

Indonesia will tighten export rules for palm oil from January 1 by allowing fewer shipments overseas for every tonne sold domestically, in a move aimed at ensuring sufficient

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Indonesia cuts duty on palm oil to boost exports

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Indonesia has lowered its export duty on palm oil in an effort to boost export shipments. The world's largest palm oil producer set a levy on crude palm oil at 7.5 percent of

Indonesia will apply progressive export levies on palm oil exports from 10 December 2020. Under the new structure, CPO will attract an export levy of USD55/t until

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'Blessing in disguise': Indonesia's president-elect Prabowo

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Asia. 'Blessing in disguise': Indonesia's president-elect Prabowo says EU palm oil ban will benefit his country. Indonesia will use more of the palm oil it produces for biodiesel

The combined levy and duty on crude palm oil exports from Indonesia will now total $213/mt for December cargoes. The market had been expecting the announcement

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Will Indonesia reduce export levy on palm oil?
For full access to real-time updates, breaking news, analysis, pricing and data visualization subscribe today. Indonesia's finance ministry has announced that the maximum export levy on crude palm oil will be reduced to $175/mt when palm prices exceed $1,000/mt, sources told S&P Global Platts.
What is the new levy on crude palm oil exports?
The Finance Ministry plans to impose a levy amounting to 7.5 percent of the reference price for crude palm oil (CPO) exports, effective three days after the new rule's introduction on Sept. 19. The new rule cuts the levy on CPO exports from US$90 to $63 per tonne.
Does Indonesia impose export tax on palm oil?
In addition to the export levies, Indonesia will continue to impose an export tax on palm oil products, starting at USD3/t when the reference CPO price is over USD750/t and increasing with price thereafter. The applicable export tax at the current reference price is USD33/t.
Why did Indonesia ban palm oil?
Indonesia earlier this year introduced export measures on palm oil products amid concerns about cooking oil prices spiralling out of control. A brief ban on exports of the edible oil from Indonesia shook markets and exacerbated existing global supply concerns, but it also led to ballooning domestic inventory.