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CPO reference price, export duty to rise in February
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Fresh picks: A worker moves freshly picked oil palm fruit bunches at a plantation area in Pangkalan Bun, Central Kalimantan. (JP/Dhoni Setiawan)
T
he Trade Ministry plans to increase the export reference price for crude palm oil (CPO) to US$815.52 per ton in February, up 3.46 percent from $788.26 per ton in January
The new reference price follows a Finance Ministry decision to increase export duty for the product by sixfold in February to $18 per ton from $3 this month.
“The CPO reference price has increased and stands at above US$800. Thus, the government has decided to impose export duty on CPO at $18 per ton for February 2017,” said the Trade Ministry’s director general for foreign trade, Dody Edward.
(Read also: CPO output to fall to 30m tons: Gapki)
Indonesia is the world’s largest CPO-exporting country, producing almost half of 15.7 million tons exported by global producers in 2015.
While the export price reference and export tax for wood and leather products will remain the same until February, the price reference for cacao beans, meanwhile, decreased by 5.61 percent to $2,212.36 per ton in the same period.
"The decrease in the cacao beans price and export price reference are due to the falling international price of the commodity” Dody said. (hwa)
