Indonesia May Cut Palm Oil Tax to Zero to Counter Malaysia
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Indonesia, the world’s largest palm oil producer, is considering reducing export taxes to boost competition with Malaysia, which set its tariff for the crude variety at zero this month to help clear record stockpiles.
“Ideally it should be at zero too,” Trade Minister Gita Wirjawan told reporters in Jakarta today. The possible reduction “can be at any level, as long as it can help maintain the downstream-industry development and our competitiveness,” he said, referring to processors and refiners.