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NEWS ADMIN

Mahamad Rodzi Abdul Ghani

DATE

22/01/2001

NEWS PROVIDER

Mahamad Rodzi Abdul Ghani

NEWS SOURCE

NULL

CATEGORY

HEADLINE

INDONESIA MIGHT CUT PALM OIL EXPORT DUTY
Indonesia said it might cut its export taxes on palm oil this month inorder to boost exports. According to Indonesian Trade and IndustryMinister, Luhut Pandjaitan, Indonesian are discussing ways to make theirpalm oil more competitive. They may lower or scrap the tax of CPO (crudepalm oil) and its by-products or only the by-products. Indonesia, theworld's second largest palm oil producer after Malaysia, currently imposesa five percent export tax on CPO and a two percent tax on Refined,Bleached and Deodorised (RBD) Palm Oil, RBD palm olein and crude olein.Pandjaitan last month said that he and Finance Minister PrijadiPraptosuhardjo made a commitment to scrap the export taxes in January. ButPrijadi later said the government had not decided on the matter as itstill had to ensure a smooth supply for domestic consumption.

 

Reuters22/1/2001