Indonesia Keeps Export Taxes on Palm Oil, Cocoa Steady for January

The Indonesian government has decided to keep export taxes for palm oil and cocoa unchanged for January, senior official said here on Dec. 22, 2011.

"The export tax for palm oil next month is still at 15 percent and cocoa remains at 5 percent," Director General for International Trade Deddy Saleh said at Trade Ministry.

The trade ministry and industry ministry jointly decided the export tariff of palm oil for the following month by using the average prices of the commodity in Rotterdam in the preceding month as reference price.

The export tax is aimed at securing domestic supply, stabilizing cooking oil prices and boosting downstream industry.

Indonesia is the world's largest palm oil producer.