From Government of Indonesia

CPO Base Price Raised


Indonesia has raised the base price for exports of crude palm oil by $3 to $490 a metric ton, effectively raising the export tax paid on CPO, a trade ministry official told Dow Jones Newswires on Wednesday (7/03/07).

The base price for refined, bleached and deodorized palm olein will also be raised to $570/ton from $552/ton.

The ministry said the base price for RBD palm oil will be raised to $556/ton from $541/ton, while the base price for crude palm olein will be raised to $553/ton from $541/ton. The new base prices will be in effect from March 10 to April 9.

Base prices are used to calculate the tax paid on palm oil exports. Crude palm oil is subject to a 1.5% export tax calculated from the base price, while other palm oil derivative products are subject to a 0.3% export tax. Palm kernel oil is subject to a 3% export tax.
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