Indonesian palm oil faces EU bar over tax loophole

The EU may levy punitive duties on palm oil from Indonesia by 2014, to address concerns over tax issues. The European Biodiesel Board's secretary-general said on 26 July 2013 that the Argentines and Indonesians have access to soybean and palm oil at a price 35-40% lower than the rest of the world, because of the differential export tax (DET) regimes. If they transform the palm oil into biodiesel there, they then don’t need to pay a tax when they export it.