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Indonesia Minister Says No Plan To Make Changes On Palm Products Export Levies

8 Nov 2018 6:35 pm
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MUMBAI (Commoditiescontrol) - Indonesia's coordinating minister for economic affairs said on Thursday that it has no plans to make any changes to export levies on palm oil.

"Even though we have had discussions on the issue, we prefer not to change the policy on this area. There is no change," the minister, Darmin Nasution, said at a press briefing in Kuala Lumpur.

"In the long term, I cannot confirm, but in the short term there is no change," he said.

Nasution said at an industry conference last week that Indonesia was considering a move to reduce the levy.

Indonesia, the world's top producer and exporter of the edible oil, currently slaps a $50 per tonne levy on crude palm oil, and a range of $20-$40 for refined palm products.

Indonesia's palm oil association, GAPKI, said last month that it had proposed cutting the palm oil export levy by $20 per tonne until prices of the vegetable oil reach $700 per tonne.

(By Commoditiescontrol Bureau; +91-22-40015533)

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