MARKET DEVELOPMENT
CPO Export Levy To Rise To 10.5 Percent
CPO Export Levy To Rise To 10.5 Percent
28/06/2013 (Jakarta Post) - The export levy on crude palm oil (CPO) will increase in July to 10.5 percent from 9 percent.
Trade Ministry data, as cited by kontan.co.id, showed that the calculation for the levy was based upon the CPO reference price, which stands at US$858.64 per metric ton, up from its average rate of $835.71 per metric ton in previous months.
Meanwhile, the standard export price for CPO for July has been set by the ministry at $783 per ton, up from $764 the month before.
Previously, the Indonesian Palm Oil Producers Association (Gapki) predicted the rise of CPO commodity prices due to declining supplies from soybean-based products from competitors.
Trade Ministry data, as cited by kontan.co.id, showed that the calculation for the levy was based upon the CPO reference price, which stands at US$858.64 per metric ton, up from its average rate of $835.71 per metric ton in previous months.
Meanwhile, the standard export price for CPO for July has been set by the ministry at $783 per ton, up from $764 the month before.
Previously, the Indonesian Palm Oil Producers Association (Gapki) predicted the rise of CPO commodity prices due to declining supplies from soybean-based products from competitors.