M’sia-Indonesia Talk on CPO Tax Soon
07/10/2011 (The Star) - Malaysia plans to hold a discussion with its Indonesian counterpart next week following Indonesia’s move to slash export tax on crude palm oil (CPO).
“The ministry will hold discussions with Indonesia to discuss the matter and is awaiting a date,” said Plantation Industries and Commodities Minister Tan Sri Bernard Dompok when launching the B5 biodiesel programme for Kuala Lumpur.
Indonesia slashed more than half its export duty on CPO refined products in August while cutting export duty on palm oil products to 13% from 25%, starting Oct 1.
Dompok said he was confident Malaysia would still achieve this year’s palm oil export target of RM70bil.
“We have been studying the impact (of Indonesia’s palm oil tax cut move) and I have briefed the Cabinet on the repercussion of it on the industry,” he said.