Under the previous rules for levies, exporters paid US$20-50 per tonne regardless of palm price levels.
SINGAPORE (Dec 6): CGS-CIMB Securities is maintaining “neutral” on the Asean agribusiness sector as Indonesia revises its export levies on palm oil and its derivative products, following a drop in crude palm oil (CPO) prices.
Under the revised ruling, the country’s government will not collect levies from palm exporters when prices are below the threshold of US$570 per tonne, but will charge US$10-25 a tonne once prices are in a range of US$570-619 per tonne. This levy will rise to US$20-50 should prices hit above US$619 per tonne.
