Last Updated :
09 March 2010 at 18:15 IST
Indonesia to keep CPO March export duty at 3%
JAKARTA (Commodity Online): Indonesia has decided to maintain its export tax on crude palm oil at 3% in March, said Diah Maulida, director general for foreign trade at the Trade Ministry.
The average CPO spot price at the port of Rotterdam, which Indonesia uses as its benchmark to set its CPO export tax, fell within the $751-$800 a metric ton range, which is equivalent to an imposition of a 3% tax, said Maulida.
The tax, which can reach as high as 25%, is imposed to ensure sufficient domestic supplies of the oil when global CPO prices are high by discouraging exports.
MCX SILVERMICRO 30 June 2012
contract was trading at
Rs 55960 , up Rs. 228 . What's your view on it?
After reading this article, people also read:
