Indonesia reduces CPO export tax to 10 pct in September
21/8/2008 18:07
Indonesia, the biggest producer of palm oil or CPO, decreased export
tariff for the commodity from 15 percent this month to 10 percent next month due
to the decrease of the CPO price in Rotterdam, Netherlands, a leading business
paper of the Bisnis Indonesia said in Jakarta today.
The commodity price in
Rotterdam has decreased from the range of US$1,100 to US$1,200 per metric ton
for August to the range of US$850 to US$1,100 per metric ton for September, head
of the Indonesian Cocking Oil Association Adiwisoko Kasman said.
Indonesia
decreased export tax from 20 percent in July to 15 percent in August this year,
the paper said.
The country is forecast to export 13.95 million tons out of
18. 4 million tons of CPO production target this year, according to the
country's palm oil association.
Palm plantations cover about 6 million
hectares in Indonesia and 4 million hectares in Malaysia, making Malaysia the
second biggest producer after Indonesia, according to THE Indonesian agriculture
ministry.
The ministry said that Indonesia would expand the palm oil
plantation area to around 8 million hectares by 2010.
Xinhua
|
