INDONESIA TO SET COCOA, CPO EXPORT TAXES AT ZERO

JAKARTA: Indonesia will set cocoa and crude palm oil (CPO) export taxes at zero in January, the trade ministry said yesterday. The cocoa export tax will be lowered from 5% in December, while the CPO tax will be unchanged. The government imposes an export tax on cocoa when its reference price is above US$2,000 a tonne. A tax is applied to CPO when its reference price is above US$750 per tonne.– Reuters