Commodity News Update- Indonesia to keep export tariff of CPO unchanged
Indonesian trade ministry has decided to keep export taxes for Crude Palm Oil (CPO) unchanged for the shipment in January.
Indonesia's Director General for Foreign Trade said export taxes for Crude Palm Oil was maintained at 0 percent for shipment next month.
The reference prices for Crude Palm Oil for January are still below the threshold, 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.
The Southeast Asia's largest economy is the world's biggest exporter and producer of Crude Palm Oil, logging about12 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.
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