Indonesia to keep CPO export tax at zero, cocoa at 5pc for Dec

JAKARTA: Indonesia will keep the export tax for crude palm oil (CPO) at zero and the export levy for cocoa at 5 percent for December, Oke Nurwan, a senior official of the trade ministry, told reporters on Tuesday.

Both tax rates will be unchanged from November as the reference prices for the two commodities are expected to remain below a certain threshold.

CPO export tax has stayed at zero since May 2017 due to low prices

Indonesia will also temporarily remove the palm oil export levy to boost the competitiveness of the vegetable oil in overseas markets.