You are here

Indonesia finance minister to approve new levy on crude palm exports on Tues

Tuesday, April 14, 2015 - 18:15

PalmLevyOil140415.jpg
Indonesia's finance minister will sign a regulation on Tuesday imposing a levy of US$50 a tonne on exports of crude palm oil, the chief economic minister said.

[JAKARTA] Indonesia's finance minister will sign a regulation on Tuesday imposing a levy of US$50 a tonne on exports of crude palm oil, the chief economic minister said.

"Today, it will be signed by the finance minister because the finance minister is going to Washington later," Sofyan Djalil told reporters.

Under the regulation, levies will be charged when the export tax is zero and the money gained will go to fund new biodiesel subsidies and rules announced this year.

The president must approve the regulation before it can take effect.

REUTERS

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom