MARKET DEVELOPMENT
Indonesia to keep cocoa export tax at 5 pct, crude palm oil stays untaxed
Indonesia to keep cocoa export tax at 5 pct, crude palm oil stays untaxed
27.09.2018 (Reuters Africa) - JAKARTA, Sept 27 (Reuters) -
* Indonesia is to keep export taxes for cocoa bean shipments in the month of October at 5 percent, while leaving crude palm oil exports untaxed, the Trade Ministry said on Thursday, unchanged from this month.
* The government has kept the export tax for cocoa at 5 percent since July, as the government’s reference price for the commodity is seen below the threshold of $2,750 per tonne.
* Crude palm oil has been untaxed since May 2017 as the reference price is seen staying below $750 per tonne. (Reporting by Gayatri Suroyo; Editing by Adrian Croft)