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MarketScreener Homepage  >  Futures  >  Chicago Mercantile Exchange - Globex  >  CPO (CPO) - CMG (ELECTRONIC)/C1       

CPO (CPO) - CMG (ELECTRONIC)/C1

End-of-day quote. End-of-day quote Chicago Mercantile Exchange - Globex - 07/02
549.25 USD   --.--%
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Indonesia sets export levy on crude palm oil at $55 per tonne

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05/30/2020 | 10:54am EDT
A worker collects palm fruit at a plantation owned by a private company in Langkat of Indonesia's north Sumatra province

Indonesia will charge a blanket export levy of $55 per tonne on crude palm oil (CPO) shipments from June 1, a Finance Ministry regulation showed on Saturday, as the government seeks to raise funds for a domestic biodiesel programme.

Indonesia, the world's largest palm oil supplier, also set new tariffs for other refined palm oil products, ranging from $25 to $45 per tonne.

Previously, export levies were only charged when the government reference price for CPO exports reached $570 per tonne, increasing to a maximum of $50 per tonne when the price exceeded $619.

Indonesia wants to maintain its ambitious biodiesel programme to absorb excess palm oil supply and slash diesel fuel imports.

(Reporting by Bernadette Christina Munthe; Writing by Tabita Diela and Fransiska Nangoy; Editing by Helen Popper)

Stocks mentioned in the article
ChangeLast1st jan.
CPO (CPO) - CMG (ELECTRONIC)/C1 0.00% 549.25 End-of-day quote.-21.37%
LONDON BRENT OIL -0.07% 42.64 Delayed Quote.-36.97%
WORLD CO., LTD. -2.20% 1514 End-of-day quote.-43.74%
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