ID :
27444
Thu, 10/30/2008 - 15:07
Auther :
Shortlink :
http://m.oananews.org//node/27444
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TRADE MINISTRY TO REVISE CPO EXPORT REFERENCE PRICE
Jakarta, Oct. 30 (ANTARA) - The trade ministry will in the near future revise its regulation No.38/M-DAG/PER/10/2008 on the Export Reference Price of CPO (crude palm oil), in view of the government's decision to reduce tax on CPO export from 2.5 percent to zero percent as of November.
"Yes, it (the regulation) should be completed soon, because it will be effective November 1," Trade Minister Marie Elka Pangestu said here on Wednesday.
Last Oct. 22, the trade minister issued a regulation setting the export reference price for November and the reference prices of export tax percentage, respectively at US$573 per metric ton and US$646.84 per metric ton, leading the tax on CPO export to 2.5 percent.
However, after attending a cabinet meeting at the presidential office recently, Finance Minister Sri Mulyani said the tax on CPO export would be further reduced to zero percent effective November 2008.
The measure was taken to help save the country's CPO industries in view to the drastic drop of CPO demands in the world market.
Meanwhile, President Susilo Bambang Yudhoyono told the press last Tuesday that the government had decided to direct CPO (crude palm oil) industries to concentrate on supplying the domestic market in view of the current slump in the CPO world market price.
Therefore, the head of state had instructed Energy and Mineral Resources Minister Purnomo Yusgiantoro and state oil company Pertamina to help absorb CPO for domestic consumption.
"We ask the Energy and Mineral Resource Minister and Pertamina to immediately take concrete steps. There must be no gap between the decision which we have taken and the implementation in the field," the president said.
Increasing CPO consumption domestically accorded with the government's policy since 2005 to develop biofuel, the president said.
"Yes, it (the regulation) should be completed soon, because it will be effective November 1," Trade Minister Marie Elka Pangestu said here on Wednesday.
Last Oct. 22, the trade minister issued a regulation setting the export reference price for November and the reference prices of export tax percentage, respectively at US$573 per metric ton and US$646.84 per metric ton, leading the tax on CPO export to 2.5 percent.
However, after attending a cabinet meeting at the presidential office recently, Finance Minister Sri Mulyani said the tax on CPO export would be further reduced to zero percent effective November 2008.
The measure was taken to help save the country's CPO industries in view to the drastic drop of CPO demands in the world market.
Meanwhile, President Susilo Bambang Yudhoyono told the press last Tuesday that the government had decided to direct CPO (crude palm oil) industries to concentrate on supplying the domestic market in view of the current slump in the CPO world market price.
Therefore, the head of state had instructed Energy and Mineral Resources Minister Purnomo Yusgiantoro and state oil company Pertamina to help absorb CPO for domestic consumption.
"We ask the Energy and Mineral Resource Minister and Pertamina to immediately take concrete steps. There must be no gap between the decision which we have taken and the implementation in the field," the president said.
Increasing CPO consumption domestically accorded with the government's policy since 2005 to develop biofuel, the president said.
