The Palm Scribe

Palm oil export duty scrapped to boost farmers’ profit

Kompas, 28 November 2018

The government’s decision to temporarily set the export duty on crude palm oil (CPO) and its derivatives at 0% was meant to boost fresh fruit bunches price at farmers level, Economic Affairs Coordinating Minister Darmin Nasution said on the sidelines of a coordination meeting of the Indonesian Oil Palm Estate Fund (BPDPKS) Steering Committee at his office in Jakarta on Monday (November 26).

Meanwhile, Indonesian Palm Oil Association (Gapki) Chair Joko Supriyono in Jakarta on Tuesday (November 27) said the export duty revocation is expected to give farmers better profit margin amid global CPO price fall. He also argued that the 0% export duty could boost export to sensitive markets such as India, Pakistan, and Bangladesh and encourage export of palm oil downstream products to Africa.

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