Indonesian Government to Raise Export Tariff on Crude Palm Oil to 15% in Dec.

As indicated by the Ministry of Trade of Indonesia on Nov. 24, 2010, the Indonesian Government has decided to raise the export tariff on Crude Palm Oil to 15% from current 10% in Dec.

The export tariff increase is largely due to the price rise of international palm oil.

According to the Ministry of Trade of Indonesia, in Dec. 2010, the basic price of Crude Palm Oil will be raised to USD 1,010 per ton from current USD 883 per ton. The Government will impose export tariffs according to the basic price.

The Indonesian Government will maintain the export tariff on cocoa of 10% in Dec., but the basic price will be raised to USD 2,519 per ton from current USD 2,500 per ton.