Indonesia Reduces Import Duty on Soybeans to Zero Percent

A Lastest News about Cereals, Leguminous Crops, Oil Seeds in Indonesia

Posted on: 18 Sep 2012

The Government of Indonesia (GOI) temporarily reduces the applied duty on soybeans from five to zero percent on August 13th, 2012.

THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Voluntary Public - Date: 8/31/2012 GAIN Report Number: ID1228 Indonesia Post: Jakarta Indonesia Reduces Import Duty on Soybeans to Zero Percent Report Categories: Oilseeds and Products Approved By: Jonn Slette Prepared By: Ibnu Edy Wiyono Report Highlights: The Government of Indonesia (GOI) temporarily reduces the applied duty on soybeans from five to zero percent on August 13th, 2012. This GOI initiative is intended to help stabilize the domestic price of soybeans in Indonesia following the recent international price spike. General Information: On August 13, 2012, the Indonesian Ministry of Finance issued Decree No. 135/PMK. 011/2012. The Decree 135 adjusts the applied import tariff levied on import duty on soybeans (other than seed - HS: 1201.90.00.00) from five percent to zero. The new temporary zero percent tariff rate is valid from August 13th to December 31st, 2012. Should soybean prices drop to a more favorable level, the GOI may re-adjust the applied tariff back to five percent prior to December 31, 2012. The five percent applied tariff will be automatically re-imposed as of January 1st, 2013 onward. Please see unofficial English version of Minister of Finance Decree No. 135/PMK. 011/2012 at http://usdaindonesia.org/?p=1021
Posted: 18 September 2012

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