Indonesia's palm oil, cocoa export tax to remain unchanged for Dec

Indonesia's palm oil, cocoa export tax to remain unchanged for Dec

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JAKARTA (Dec 3): Indonesia will hold the export tax for crude palm oil (CPO) at zero and for cocoa beans at 5% for December, the trade ministry said in a statement on Tuesday.

The ministry set the CPO reference price at US$650.18 per tonne for December, up nearly 14% from the reference price a month earlier, and the December cocoa beans reference price at US$2,240 per tonne.

Indonesia collects export taxes for CPO when the reference price is above a US$750-per-tonne threshold and collects export levies when the price is above US$570 a tonne, but the government said in September it would not collect any levies until January.