Indonesian Crude-Palm-Oil Export Duty Down to 13.5% in Sept.

 
According to Indonesian trade ministerial officials, Indonesia will lower the export duty on crude palm oil to 13.5% in September from 15% of August, because the palm oil price is falling.

In September, Indonesia will cut down its export price for crude palm oil to USD 918/ton compared with USD 950/ton in August.

The government evaluates the duties according to average palm oil prices at Kuala Lumpur, Rotterdam and Djakarta each month. Up to now, crude-palm-oil futures price has fallen by 5.4% at Malaysian derivatives exchange (BMD) owing to reduced demand for the oil in Europe and China.