{"id":42727,"date":"2022-07-17T13:38:04","date_gmt":"2022-07-17T10:38:04","guid":{"rendered":"https:\/\/www.ukrgate.com\/eng\/?p=42727"},"modified":"2022-07-17T13:38:08","modified_gmt":"2022-07-17T10:38:08","slug":"indonesia-cancels-the-duty-on-the-export-of-palm-oil-until-august-31","status":"publish","type":"post","link":"https:\/\/www.ukrgate.com\/eng\/?p=42727","title":{"rendered":"Indonesia cancels the duty on the export of palm oil until August 31"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">A worker collects palm fruits on a plantation<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>KYIV.\u00a0UkraineGate. 17. July . 2022 | World News.\u00a0<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Indonesia canceled export duties on all palm oil products until August 31.\u00a0This decision was made to increase exports and reduce high stocks.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Details<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Indonesia, as the world&#8217;s biggest palm oil exporter, could further reduce prices, which have fallen by about 50% since late April to their lowest level in a year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Local producers are grappling with high inventories after the country imposed a three-week export ban until May 23 to lower domestic prices for the commodity.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Since the ban was lifted, Jakarta has implemented mandatory local sales rules to keep produce at home for processing into oil.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The abolition of the levy is aimed at further supporting exports.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Finance Minister Sri Mulyani Indrawati said a progressive export tax on palm oil will be introduced from September 1 at a rate of between $55 and $240 per tonne of crude palm oil, depending on prices.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the Indonesian Palm Oil Association (GAPKI), there were 7.23 million tonnes of crude palm oil in storage tanks as of the end of May.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em><strong>Source<\/strong>:\u00a0<strong>Ukrgate<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A worker collects palm fruits on a plantation KYIV.\u00a0UkraineGate. 17. July . 2022 | World News.\u00a0 Indonesia canceled export duties on all palm oil products until August 31.\u00a0This decision was made to increase exports and reduce high stocks.\u00a0 Details Indonesia, as the world&#8217;s biggest palm oil exporter, could further reduce prices, which have fallen by [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":42728,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10474],"tags":[1284,2307,996,2399,1000,1024],"class_list":["post-42727","post","type-post","status-publish","format-standard","has-post-thumbnail","category-world-news","tag-exports","tag-indonesia","tag-ukraine","tag-ukraine-gate","tag-ukraine-news","tag-ukrgate"],"_links":{"self":[{"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/posts\/42727","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42727"}],"version-history":[{"count":1,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/posts\/42727\/revisions"}],"predecessor-version":[{"id":42733,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/posts\/42727\/revisions\/42733"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/media\/42728"}],"wp:attachment":[{"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}