InfoSAWIT, SURABAYA – The Palm Oil Plantation Fund Management Agency (BPDPKS) has revised its 2024 palm oil export levy target down to IDR 24 trillion from the initial target of IDR 27 trillion. This adjustment follows the implementation of new tariff regulations introduced by the government.

"Due to the adoption of the new tariff scheme, we estimate the export levy target will decrease to IDR 24 trillion this year," said BPDPKS Fundraising Director, Normansyah Hidayat Syahruddin, during an event at Ciputra World Hotel Surabaya on Thursday (November 21).

The Ministry of Finance previously issued Regulation No. 62 of 2024 (PMK 62/2024), which governs BPDPKS service tariffs. A key provision in the regulation involves a reduction in the export levy (PE) on palm oil, which was previously progressive and tied to global crude palm oil (CPO) prices.

Normansyah acknowledged that the new regulation would affect levy revenues. "We hope the impact won’t be too drastic. We are optimistic about compensating for this by increasing export volumes as our products become more competitive in international markets," he explained.

As of mid-November 2024, total palm oil export levies had reached IDR 22 trillion. With limited time remaining before the year-end, BPDPKS is implementing measures to accelerate revenue collection to meet its target.

"We are collaborating with Customs to ensure smooth export levy collection. Additionally, we are exploring new opportunities to maximize revenue," Normansyah added.

The adjusted levy rates are expected to enhance the competitiveness of Indonesian palm oil exports in global markets. With more competitive pricing, industry players have a greater opportunity to increase export volumes, ultimately supporting the achievement of BPDPKS’s revenue goals. (T2)