JAKARTA - The government through the Ministry of Finance (Kemenkeu) has officially extended its export levy policy of crude palm oil (CPO) 0 US dollars per ton until October 31, 2022, which has a positive impact on the national economy.
Head of the Fiscal Policy Agency (BKF) of the Ministry of Finance, Febrio Kacaribu, said the previous regulation stated that export tariff exemptions were valid from July 15 to August 31, 2022. According to him, this fiscal strategic step turned out to have a good influence on domestic supply stability.
In addition, the benefit effect is also felt on business actors in the upstream sector, especially for the category of small players.
The government has tried to implement various policies on the price of CPO to maintain a balance between the availability and affordability of cooking oil prices, fair business profits, the sustainability of the B30 program, and the welfare of farmers. As a result, the availability and affordability of bulk cooking oil prices sold in traditional markets in several areas, especially Java, have been achieved," he said in a press statement on Friday, September 2.
Febrio added that the government's efforts also aim to anticipate the uncertainty of commodity prices, including CPO.
"Fiscal policy is always anticipatory and responsive to protect people's purchasing power and keep the momentum of economic recovery going and getting stronger," he said.
Furthermore, Sri Mulyani's subordinate also revealed that export volume in July 2022 was recorded at 3.32 million tons. This figure increased by 409,479 tons, equivalent to 14 percent from the June 2022 period which was 2.91 million tons.
"The increase in export volume was followed by an increase in TBS prices at the farmer level," he said.
For information, the strategy for exemption from the CPO export rate is contained in the Minister of Finance Regulation Number 130/PMK.05/2022 concerning the Second Amendment to the Regulation of the Minister of Finance Number 103/PMK.05/2022 concerning the Tariff of Services of the BPDPKS Public Service Agency at the Ministry of Finance.
"Since the export levy tariff was imposed at 0 dollars per US, the export burden borne by business actors has decreased so that it is able to increase exports according to government expectations. We need to maintain this momentum so that it is able to reduce domestic stock and optimize the price of FFB," closed Febrio.
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