Friday, August 21, 2009

Breaking News-RTRS-Indonesia to keep Sept palm oil export tax at zero

JAKARTA, Aug 20 (Reuters) - Indonesia will keep its palm oil export tax at zero in September, but raise the crude palm oil (CPO) base export price to $615 a tonne from $574 in August due to a price rise, a trade ministry official said on Thursday.
Indonesia uses the average spot CPO price in Rotterdam, Europe's vegetable oils market, during the preceding month as a reference price to decide palm oil tax rates for the following month.