Indonesia slaps 20 percent export duty on crude palm oil

March 28, 2008

In Indonesia, the central government imposed a 20 percent tariff on export of crude palm oil, in an attempt to reduce prices in local Indonesia markets. The taxes will be imposed as of April 1, with the base price of CPO increasing to $1196 per tonne. The country has been beset by palm oil inflation caused by rising prices of the commodity.

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Written by Jim Lane · Filed Under International