Basically, the Finance Minister's Regulation No.15/2022 changes the rates of export levies for all palm oil products, including fresh fruit bunches, palm oil, crude palm oil, and used cooking oil.Badung, Bali (ANTARA) - The Finance Ministry has decided to scrap levies on the export of crude palm oil (CPO) and its derivatives until August 31, 2022.
The decision was laid down in Finance Minister's Regulation No.15/2022, an amendment to the Finance Minister's Regulation No.103/PMK.05/2022 on the Oil Palm Plantation Support Fund Management Agency (BPDPKS), Finance Minister Sri Mulyani Indrawati said here, on Saturday,
"Basically, the Finance Minister's Regulation No.15/2022 changes the rates of export levies for all palm oil products, including fresh fruit bunches, palm oil, crude palm oil, and used cooking oil," she said.
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The regulation reduces the export levies to zero percent for all products related to CPO or palm oil, she added.
The Finance Ministry will introduce progressive rates after August 31.
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"This means that, if the CPO price is low, then the rate will be very low. If the price rises, the rate will increase," she said.
By taking the step, the government will receive funding through the BPDPKS to carry out the program of stabilizing the prices of biodiesel and cooking oil, she added.
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Translator: Agatha Olivia Vi, Suharto
Editor: Fardah Assegaf
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