30/10/2012 (Tempo Interactive) - The Trade Ministry has set a duty tariff of Crude Palm Oil (CPO) for November 2012 at 9 percent or 4.5 percent lower than the previous month.

The duty fees were determined based on reference prices in October at US$847 per metric ton, lower than September reference prices of $990.15 per metric ton. The government has also set a benchmark for CPO export prices at $776 per ton. The price was obtained based on the average CPO prices within the last month at the Indonesia Commodities and Derivatives Exchange (BKDI) and the Rotterdam Commodities Exchange in the Netherlands.

Progressive duty tariffs for CPO and cocoa are set based in Finance Minister Decree No. 223/PMK.011/2008 on export goods subjected to duty fees. The lowest CPO duty fee is 7.5 percent for the reference price of $750 to $800 per ton and the highest fee is 22.5 percent for the reference price of above $1,250 ton. In October, the CPO duty free has been set at 13.5 percent for the reference price of $950 to $1,000 per ton.