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Indonesia concerned about France's crude palm oil tax plan

Xinhua, February 16, 2016 Adjust font size:

Indonesia is concerned about France's plan to impose progressive tax on crude palm oil (CPO) as the country is the largest CPO producer.

Indonesian Trade Minister Thomas Trikasih Lembong said more than 16 million people in the country rely on palm oil industry to make a living, adding that the industry plays a significant role in poverty reduction in Indonesia.

According to the minister, Indonesia is going to invite French parliament members and government officials to visit Indonesia and show them CPO business in the country was not only run by large firms, but also by individual farmers.

Proceeds from CPO exports contribute 1.6 percent to Indonesia's gross domestic product (GDP) at present.

Indonesia exports up to 22 million tons of CPO per year. Its CPO exports to the European Union averagely stand at 4 million tons per year. Enditem