Indonesia Raises CPO Export Levy to 10% Effective May 17

KONTAN.CO,.ID - JAKARTA. Indonesia will raise its crude palm oil (CPO) export levy starting May 17 to 10% of its CPO reference price from 7.5% currently, in order to finance the country's increased biodiesel blending mandate, a regulation signed on Wednesday showed.

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Export levies for refined products will be set at a range between 4.75% and 9.5% of the CPO reference price, up from between 3% and 6% of the reference rates currently.