Indonesia Resumes Collection of Palm Oil Export Levies

With effect January 01 this year, Indonesia has resumed collection of crude palm oil (CPO) export levy of US$50/ton due to recovering palm oil prices. Collection of said levy was suspended since April 2017 due to plunging palm oil prices that affected the incomes of oil palm smallholders.  The trade ministry announced that the CPO reference price for January would be US$729.72/ton, up from US$650.18 in December. The reference prices helped determine export duties.