Indonesia to Impose Palm Export Levy to Fund Biofuel Subsidy
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Indonesia, the world’s biggest palm oil producer, will impose export levies to fund biodiesel subsidies as well as replanting, research and development.
Shippers will pay a levy of $50 a metric ton for palm oil and $30 for processed products starting this month, Sofyan Djalil, coordinating minister for economic affairs, said in Jakarta on Saturday. The government will keep the threshold for application of a separate export tax at $750 a ton, Djalil said.