Indonesia greenlights crude palm oil tax waiver to stimulate exports

In Indonesia, the national government announced a national crude palm oil export tax exemption, aimed to stimulate exports.  ”We delete the tax export to zero, and hope to achieve the target of 13 million tons for this year’s export,” an Economic Affairs official said. The country is facing overstock of more than 2 million tons of crude palm oil, and its “stretch” target represents a major drop from 2007 exports of 16.7 million tons.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

Indonesian Biofuels Committee proposes tax incentive structure to respond to rising crude palm oil prices

In Indonesia, the National Biofuel Development Committee proposed a cut in the local VAT for biofuels in order to stimulate production in the face of the rising cost of palm oil. The Committee propose...

Indonesia slaps 20 percent export duty on crude palm oil

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 t...

Malaysia, Indonesia to increase palm oil biodiesel production up to 40 percent in bid to raise palm oil prices

In Indonesia, the governments of Malaysia and Indonesia have agreed to increase palm oil biodiesel production to reduce palm oil stockpiles and provide a boost to crude palm oil prices, which have fal...

Crude palm oil prices hit record close of $1,071 per tonne as Indonesia imposes export tax to protect domestic food prices

In Malaysia, crude palm oil (CPO) hit a new record closing price of $1,071 per tonne after Indonesia announced increased export taxes in a move to reduce the pressure on domestic food prices. Indonesi...

Indonesia to double biodiesel production, Thailand says “no problem” with B2, despite soaring crude palm oil prices

In Indonesia, an industry official told Reuters that palm oil biodiesel production is expected to double, to 1.3 million tonnes, in 2008 with capacity reaching 1.9 million tonnes, based on strong expo...

Indonesia’s Pertamina reduces biodiesel blend to B1 as crude palm oil prices continue upward climb

In Indonesia, the state oil firm, Pertamina, has reduced its biodiesel blend ration from B2.5 to B1, owing to increase in the the price of crude palm oil. The biodiesel blend was previously reduced f...