CPO Export Duty Remains Free

The Trade Ministry has set the crude palm oil (CPO) reference price for the export duty in August 2016 at US$676.34 per metric ton, decreasing by US$ 35.74 or 5.02 % when compared to that in July 2016.

cpo export duty remains free

Therefore, CPO exports in the period of August 2016 would not be imposed by export duty as stated in the annex of Finance Minister’s Regulation No. 136/2015.

“Currently, the CPO reference price is reduced to below the threshold of export duty imposition at US$ 750,” Doddy Edward, director general of foreign trade at the Trade Ministry said on Friday, July 29, 2016, in Jakarta.

The decision is set forth in Trade Minister’s Regulation No. 50/M-DAG/PER/7/2016 on the Export Reference Price (HPE) for Agriculture and Forest Produces Imposed with Export Duties. Doddy added that price changes only occurred in CPO and cocoa. Meanwhile, prices of other commodities, such as timber and leather products, experienced no changes from the previous month.

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source: http://en.tempo.co/
(Bagus Prasetiyo)
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