Indonesia to keep export taxes for cocoa, palm oil at zero in July

JAKARTA: Indonesia will maintain export taxes for cocoa beans and crude palm oil at zero for July because the reference prices of the commodities are expected to remain below the threshold that would trigger in increase, trade ministry said on Thursday.

The cocoa bean export tax will be set at zero for a second month. For crude palm oil, it is the third at zero.

The Indonesian trade ministry imposes no export tax when the government reference price is expected at $750 a tonne or lower for palm oil and $2,000 a tonne or lower for cocoa beans.