27/03/2012 (Lanka Business Online) - The Indonesian trade ministry said it will raise the export tax on crude palm oil (CPO) to 18 per cent in April from 16.5 per cent at present.

New export tax is set every month based on the CPO reference price.

The export tax is raised to follow the rise in the CPO reference price, said Dedy Saleh, the director general of foreign trade.

Dedy said the CPO reference price has increased US$59.27 to US$1,147.99 per ton, adding, the export benchmark price has also increased $59 to US$1.017 per ton in March.

The reference and benchmark prices are set based on average prices in a month earlier.

The export benchmark prices for CPO derivatives such as crude palm olein have also been raised proportionally. (ANTARA)