Indonesia keeps CPO export tax zero pct, cuts cocoa export tariff to 5 pct

Indonesia's trade ministry has held a zero-percent export tariff for crude palm oil (CPO) for December shipment and trimmed the tax to 5 percent for cocoa from an average of 10 percent in the previous months, senior official disclosed here on Thursday.

Director General for Foreign Trade of Trade Ministry Dody Edward said that the CPO reference prices in December was 749.47 U.S. dollars per metric ton, which remains below the threshold level of 750 U.S. dollars per metric ton for applying an export tax.

For cocoa, its reference price in December was down 7.41 percent to 2,574.60 U.S. dollars per a metric from that of at the previous month, he said.

Indonesia is the world's largest producer of palm oil and the among the world's top three cocoa producers along with Ivory Coast and Ghana. Enditem