JAKARTA: Indonesian government has announced a plan to introduce export levies for palm oil exporters that will be used primarily to fund its biodiesel programme, as well as for replanting and research programmes in local plantations.
Plantation Industries and Commodities Minister Datuk Amar Douglas Uggah Embas in a statement said under the Indonesian government plan, palm oil exporters would be levied US$50 per tonne for crude palm oil (CPO) shipments and US$30 a tonne for processed palm oil products.
Indonesian President, Joko Widodo, signed a regulation requiring exporters to pay the levy yesterday.
Uggah said he would be closely monitoring the situation and analysing any possible impact of the levy on Malaysias palm oil industry.
He said a task force by the government and industry members would also be established during a meeting he chaired on March 23 to monitor the situation and give recommendation to government policy options.
Pakistan to get $3b loan from Islamic Trade Financing Corporation
ISLAMABAD: Islamic Trade Financing Corporation (ITFC) to provide Pakistan with a $3 billion loan, according to an official statement released...
