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The Ministry of Trade has set the reference price for Crude Palm Oil (CPO) for the export duty period in February 2017 at US$ 815.52 per metric ton. This figure is up 3.46 percent from January 2017, which was US$ 788.26 per metric ton. This price increase results in a higher export duty for domestic palm oil producers.
The CPO export duty for February 2017, as listed in Column 3, Appendix I, Letter C of the Minister of Finance Regulation No. 140/PMK.010/2016, is US$ 18 per metric ton. This export duty applies if the CPO reference price is in the range of US$ 800-850 per metric ton. Hitherto, the CPO export duty has been progressively determined according to its price fluctuations in the global market.
In addition to the export duty, exporters must still pay the palm oil export levy (CPO Fund) of US$ 50 per metric ton of CPO and US$ 30 per metric ton for its derivative products. However, this increase in export duty could weaken palm oil exports in the near future.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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