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Indonesia relaxes levies on palm oil exports

Indonesia relaxes levies on palm oil exports

Indonesia began relaxing levies on palm oil exports on 5 December to stimulate trade, the Indonesian Ministry of Finance announced. Indonesia relaxed levies on palm oil exports According to the South east asian media Indonesia will not collect levies from palm exporters when prices are below a threshold of US$570 (RM2,370) /tonne, but will charge US$10-$25 once prices are in a range of US$570-$619 per tonne. The range will rise to US$20-$50 when prices rise above US$619/tonne. Under previous rules, exporters had to pay US$20-$50/tonne regardless of the palm oil prices.

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