Nigerian Palm Oil about to get expensive, Indonesia increases export levy

Nigerian Palm Oil About To Get Expensive, Indonesia Increases Export Levy - Thepodiummedia

Indonesia, the world’s largest producer of palm oil, increased the export tax on crude palm oil (CPO) from 7.5% to 10% on May 17. This policy shift is aimed at financing biofuel initiatives and replanting activities within the country. Nigeria, the world’s fifth-largest palm oil producer  still imports almost half of the two million tons consumed domestically each year. Palm oil has lost its status as the most reasonably priced vegetable oil glo…

Nigerian Palm Oil about to get expensive, Indonesia increases export levy

Indonesia, the world’s largest producer of palm oil, increased the export tax on crude palm oil (CPO) from 7.5% to 10% on May 17. The post Nigerian Palm Oil about to get expensive, Indonesia increases export levy appeared first on Nairametrics.