Indonesia is the largest CPO producer in the world
— yulyanto • July 6th, 2008
As the world’s largest Crude Palm Oil (CPO) producer, Indonesia will always concern regarding current policy for this commodity, especially for export duty.
Focus on CPO, government always set the export duty every month. On February 2008, the goverment issued a new progressive tariff for export duties which states that CPO priced between US$1,100 and $1,200 per ton will incure a duty of 15 percent.
If the prices ranging of CPO is between US$ 1,200 – US$ 1,300 per ton, the export duty will be 20% and for more than US$ 1,300 per ton the duty for export of CPO will be 30%.
According to the Central Statistics Agency (BPS), total Crude Palm Oil (CPO) exports Indonesia in May reached 1.8 million tons with a total value of $1.9 billion, up from 655,000 tons in April with a value of $690.1 million.
Indonesian Palm Oil Association (GAPKI) estimates that the country will produce 18.4 million tons of CPO for 2008. 4 million tons of which will be sold domestically, to be used as a raw material for cooking oil, while 300,000 tons will be used to make biodiesel and the remaining 14 million will be exported to overseas (www.thejakartapost.com).
Post a comment