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CPO Export Duty Lowered to 9%

4 September 2014 15:50 WIB

TEMPO.CO, Jakarta – The exit duty for crude palm oil (CPO) in September 2014 was lowered to 9.0 percent from 10.5 percent in the previous month. The decline was determined by the Ministry of Trade through the export reference prices for September 2014's agricultural products.

Partogi Pangaribuan, the Trade Ministry's director general of foreign trade, said the decline in export duties is in line with the CPO reference price drop of 6.3 percent to US$810.63 per metric ton.  

He said the number was obtained from the CPO export reference price of US$739 per metric ton, which is down 6.9 percent from the previous month's US $ 794 per metric ton. 

PINGIT ARIA | MUHAMMAD YUNUS (MAKASSAR) 

CPO


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CIPS' Krisna Gupta said the relaxed cooking oil domestic market obligation quota can open the door to growing exports.