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澳5彩票官网:Optimism about Indonesia’s palm oil exports

澳5彩票官网:Optimism about Indonesia’s palm oil exports

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At the end of May, data from the Indonesian Palm Oil Association showed there were 7.23 million tonnes of CPO in storage tanks in Indonesia, which was up 18.5% month-on-month and 236% year-on-year.

KUALA LUMPUR: CGS-CIMB Research is optimistic about Indonesia’s latest measure on the short-term palm oil export levy waiver as it encourages an increase in exports and reduces the country’s high stockpiles.

Indonesia recently announced it would waive a palm oil export levy from July 15 to Aug 31 in an attempt to boost shipments and reduce stockpiles.

According to Indonesia’s finance ministry website, the export levy has been cut to zero from US$200 (RM889.86) per tonne for crude palm oil (CPO) and the waiver also applies to other palm oil products.

From an exporter’s perspective, CGS-CIMB Research believes that the levy exemption for July is significant as it represents a 41% discount from the previous total CPO export tax and levy of US$488 (RM2,171) per tonne for July.

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As of July 15, the government issued permits to export 2.84 million tonnes of palm oil, of which 1.74 million tonnes were based on domestic market obligations (DMO) and 1.1 million tonnes were export permits exempted from DMO.

At the end of May, data from the Indonesian Palm Oil Association showed there were 7.23 million tonnes of CPO in storage tanks in Indonesia, which was up 18.5% month-on-month and 236% year-on-year.

CGS-CIMB Research has kept a “neutral” rating on the sector as the valuations are undemanding following recent price corrections.


转载说明:本文转载自Sunbet。
  • 皇冠信用网官网(www.hg108.vip) @回复Ta

    2022-09-02 00:13:15 

    现在,欧洲正面临严峻的能源危机,不仅不少家庭已经负担不起高涨的电费和燃气费用,企业也面临生产成本上涨的压力。很现实但是不残酷

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