R.E.A. Holdings plc (RE.)
R.E.A. Holdings plc (“REA” or the “company”)
Further re selling prices
Further to the company's announcement on 19 July 2022 regarding selling prices for crude palm oil ("CPO") and crude palm kernel oil ("CPKO"), the Indonesian government has published a revision of the export tariff structure and reference price calculation methodology effective from 9 August 2022.
The new structure maintains the same sliding scale of export duties, but reduces by $70 per tonne the reference price bands at which the duties are applied. The bands now range from $680 to $1,430 per tonne, compared with the previous range of $750 to $1,500 per tonne. The previously announced one-off export levy waiver remains in place until 31 August 2022. The rates of export levy and export duty that are currently in force are as set out below.
Concurrently with this change, the methodology for calculating the reference price has been amended so that generally this will more closely reflect the Indonesian FOB price than hitherto.
In conjunction with the above, the official government notional reference price at which the tariff structure is applicable has been reduced from $1,615 per tonne to $872 per tonne. This means that currently export duty is levied at the rate of $52 per tonne and no export levy is payable.
R.E.A Holdings plc
Tel: 020 7436 7877
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