Indonesia holds CPO, cocoa beans export tax steady for next month

Source: Xinhua| 2018-08-27 19:24:48|Editor: xuxin
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JAKARTA, Aug. 27 (Xinhua) -- Indonesian trade ministry said on Monday that it has decided to keep the export taxes for crude palm oil (CPO) and cocoa beans unchanged for the shipment in September.

Director for Foreign Trade of Trade Ministry Oke Nurwan said that export tax for the CPO was maintained at zero percent for the shipment in September and for cocoa beans at 5 percent, which has been set since July.

The decision, Nurwan said, was made on the ground that the recurrent reference prices of the two commodities set for the shipment next month remain below the threshold, which did not exert on the change of the export tariffs.

The reference price for CPO edged down 4.46 percent to 603.94 U.S. dollars per metric ton on month for the shipment in September, still bellow the threshold of 750 U.S. dollars, the director noted.

"Accordingly, the government imposes a zero percent export tax," Nurwan said in a statement issued by the ministry.

For cocoa bean, its reference price for September's shipment also edged off 12.08 percent to 2,163.67 U.S. dollars per metric ton, lower than its threshold of 2,750 U.S. dollars per metric ton, he added.

Indonesia is the world's largest producer and exporter of crude palm oil, and is among the world's top three of cocoa producer along with the Cote d'lvoire and Ghana.