Indonesia\'s Govt Maintains Cocoa Bean Export Tariff
http://dervishcom.blogspot.com/2011/11/indonesias-govt-maintains-cocoa-bean.html
The Trade Ministry has set export tax on cocoa bean for December 2011 shipment at 5 percent or the same as the previous month.
The export reference price of the commodity was set at US$2,316 per ton for December, down from US$2,359 per ton in the previous month, the ministry’s director general of foreign trade, Deddy Saleh said here on Monday.
"The reference price of cocoa bean for December shipment is US$2,606.38 per ton," he said.
Under the finance minister’s regulation number 128 of 2011, the reference price of cocoa bean is set based on the average international price based on the average price at the New York Board of Trade (NYBOT).
The government said the imposition of export tax on cocoa bean since April 2010 was designed to encourage cocoa bean processing plants as well as to increase the export of processed cocoa.
The policy was taken now that Indonesia as the world’s third largest cocoa producer still exported great quantities of unprocessed cocoa bean. Deddy said earlier the imposition of export tax on cocoa bean had begun to have an impact on the increased activities of the domestic cocoa processing industry.
The imposition of export tax on cocoa bean also had contributed significantly to an increase in the export of processed cocoa, he said. Data from the Trade Ministry showed the country’s processed cocoa exports in the January to May 2011 reached 42.7 thousand tons, up 103.4 percent from the same period last year.
The export reference price of the commodity was set at US$2,316 per ton for December, down from US$2,359 per ton in the previous month, the ministry’s director general of foreign trade, Deddy Saleh said here on Monday.
"The reference price of cocoa bean for December shipment is US$2,606.38 per ton," he said.
Under the finance minister’s regulation number 128 of 2011, the reference price of cocoa bean is set based on the average international price based on the average price at the New York Board of Trade (NYBOT).
The government said the imposition of export tax on cocoa bean since April 2010 was designed to encourage cocoa bean processing plants as well as to increase the export of processed cocoa.
The policy was taken now that Indonesia as the world’s third largest cocoa producer still exported great quantities of unprocessed cocoa bean. Deddy said earlier the imposition of export tax on cocoa bean had begun to have an impact on the increased activities of the domestic cocoa processing industry.
The imposition of export tax on cocoa bean also had contributed significantly to an increase in the export of processed cocoa, he said. Data from the Trade Ministry showed the country’s processed cocoa exports in the January to May 2011 reached 42.7 thousand tons, up 103.4 percent from the same period last year.
