Crude palm oil (CPO) exports for February 2009 shipments will be subjected to zero percent export taxes because The CPO reference price is still less than US$750 per ton, a senior trade official said.
“Export tax for CPO exports is still set at zero percent, the same as that two months ago because the CPO reference price in the world market is only US$555.98 per ton,” Director General for External Trade of the Ministry of Trade Diah Maulida said here on Tuesday.
CPO export reference price is set based on the average price of CPO at the Rotterdam Bourse in the previous two months. The price become a reference in fixing the percentage of the CPO export tax rate.
Although the CPO export tax is still zero percent, the trade ministry set the CPO domestic export reference price (HPE) at US$482 per ton, she said.
Since December 2008, the government had not collected export taxes for CPO exports (export tax zero percent) because the price of CPO in the international market fell to about US$400 per ton.
Diah Maulida said that the HPE of CPO for the January 1 – 31 period was set at US$418 per ton while its reference price was US$490.73 per ton.
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