Indonesia keeps export taxes unchanged for crude palm oil, cocoa for January shipment

Source: Xinhua| 2018-12-27 20:41:50|Editor: Li Xia
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JAKARTA, Dec. 27 (Xinhua) -- Indonesian trade ministry said Thursday that it has decided to keep export taxes for crude palm oil and cocoa bean unchanged for the shipment in January.

Director General for Foreign Trade of Trade Ministry Oke Nurwan said export taxes for crude palm oil was maintained at 0 percent and those for cocoa bean at 5 percent for shipment next month.

The reference prices for crude palm oil and cocoa bean for January are still below the threshold, not strong enough to change the export taxes, he said.

For shipment next month, the reference prices for crude palm oil is down 8.39 percent to 503.3 U.S. dollars per metric ton, below the threshold of 750 U.S. dollars per metric tons, he said.

Similarly for cocoa bean, its reference prices for January comes lower by a 3.27 percent to 2,176.88 U.S. dollars, below its threshold.

The Southeast Asia's largest economy is the world's biggest exporter and producer of crude palm oil, logging abut 12 million hectares of palm oil plantation across the vast archipelagic nation.

Last year, Indonesia palm oil outputs touched 34.5 million tons last year, according to data from agriculture ministry.

Indonesia is among the world's top three cocoa producers along with Ghana and Cote d'Ivoire.