African Nations Dependent on Indonesian Palm Oil Face Price Rises Due to Tax Increase
Indonesia’s recent announcement to raise its export tax on crude palm oil (CPO) from 7.5% to 10% is stirring ripples across global markets. While this change is significant for many countries worldwide, the ramifications are particularly acute for Africa, which heavily relies on palm oil imports from Southeast Asia.
For many African nations, the news of this new levy, set to take effect on May 17, 2025, poses a troubling scenario: heightened import costs. It’s a reality that can significantly affect local economies and…