Non-Tax State Revenue from Palm Oil Export Levy Hits $1 Billion
Jakarta. Indonesia’s oil palm plantation funding agency BPDPKS reported Tuesday that the non-tax state revenue from palm oil export levies had reached Rp 15.88 trillion (around $1 billion) as of July 2024.
“This is equivalent to the 31.3 percent of the non-tax state revenue recorded by public service agencies which hit Rp 50.7 trillion. It also made up 4.6 percent of the overall non-tax state revenue which hit Rp 338 trillion over the same period,” Kabul Wijayanto, a director at BPDPKS, said in East Belitung, as reported by state-run news agency Antara.
Indonesia exported 19.43 million metric tons as of July 2024.
BPDPKS collects export levies from businesses to run its programs, according to Kabul. The fundraising also comes from financing institutions, among others. BPDPKS’ programs include rejuvenating small-scale palm oil plantations as means to boost local farmers’ welfare. It is also conducting research and setting up the necessary infrastructures to improve farmers’ production and transportation cost efficiency. BPDPKS also tries to stabilize the price of crude palm oil (CPO) by helping fund the biodiesel program.
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