Indonesia sets export levy on crude palm oil at $55 per tonne
30.05.2020 (Successful Farming) - JAKARTA, May 30 (Reuters) - Indonesia will charge a blanket export levy of $55 per tonne on crude palm oil (CPO) shipments from June 1, a Finance Ministry regulation showed on Saturday, as the government seeks to raise funds for a domestic biodiesel programme.
Indonesia, the world's largest palm oil supplier, also set new tariffs for other refined palm oil products, ranging from $25 to $45 per tonne.
Previously, export levies were only charged when the government reference price for CPO exports reached $570 per tonne, increasing to a maximum of $50 per tonne when the price exceeded $619.
Indonesia wants to maintain its ambitious biodiesel programme to absorb excess palm oil supply and slash diesel fuel imports. (Reporting by Bernadette Christina Munthe; Writing by Tabita Diela and Fransiska Nangoy; Editing by Helen Popper)
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