Indonesia Cuts Palm Oil Export Tax Rate to 15% for November

Oct. 21 (Bloomberg) -- Indonesia reduced the tax rate for crude palm oil exports for November to 15 percent from 16.5 percent in October and cut the tax rate for cocoa bean exports to 5 percent from 10 percent, Deddy Saleh, the director general for foreign trade at the Trade Ministry, said by mobile-phone text messge today.

The base price for calculating the levy exporters must pay on crude palm oil exports was cut to $938 a ton from $1,001 a ton. For cocoa beans the base price was lowered to $2,359 a ton from $2,679 a ton, Saleh said.

To contact the reporter on this story: Eko Listiyorini in Jakarta at elistiyorini@bloomberg.net

To contact the editor responsible for this story: Berni Moestafa at bmoestafa@bloomberg.net