Indonesia plans to raise palm oil export levy to 4.5% to 10%, official says
FILE PHOTO: Trucks with palm oil fresh fruit bunches queue for unloading at a factory in West Aceh, Indonesia, May 17, 2022, in this photo taken by Antara Foto. Antara Foto/Syifa Yulinnas/ via REUTERS/File photo
JAKARTA : Indonesia plans to raise its palm oil export levy to between 4.5 per cent to 10 per cent of the CPO reference price, up from 3 per cent to 7.5 per cent, to finance a mandated increase in the amount of palm oil used in biodiesel, a plantation fund official said on Tuesday.
Kabul Wijayanto, director at the Plantation Fund Agency, said authorities will impose the new levy three days after the regulation is issued, which is still being processed.
Source: Reuters
