Rabu, Agustus 7, 2024

Palm Oil Derivative Commodity Classification Introduced

The Minister of Industry ("Minister") has established the classification for Palm Oil Derivative Commodity Classification through the issuance of Regulation No. 32 of 2024 ("Regulation 32/2024"), which has been in force since 16 July 2024.
Essentially, the classification of Palm Oil Derivative Commodities serves as a reference and is broadly categorized as follows: 1) Downstream implementation; 2) Formulation of fiscal and export policies; and 3) Technical identification.
Outlined comprehensively under the Appendix to Regulation 32/2024, the classification of Palm Oil Derivative Commodities is divided into derivative commodity groups I until V. In this regard, the overall monitoring and evaluation of the Palm Oil Derivative Commodity Classification shall be coordinated by the Director-General at the Ministry.
It is important to note that the Director General will conduct periodic monitoring and evaluation once a year and report the results to the Minister.

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*Syarat dan ketentuan berlaku

The Minister of Industry ("Minister") has established the classification for Palm Oil Derivative Commodity Classification through the issuance of Regulation No. 32 of 2024 ("Regulation 32/2024"), which has been in force since 16 July 2024.
Essentially, the classification of Palm Oil Derivative Commodities serves as a reference and is broadly categorized as follows: 1) Downstream implementation; 2) Formulation of fiscal and export policies; and 3) Technical identification.
Outlined comprehensively under the Appendix to Regulation 32/2024, the classification of Palm Oil Derivative Commodities is divided into derivative commodity groups I until V. In this regard, the overall monitoring and evaluation of the Palm Oil Derivative Commodity Classification shall be coordinated by the Director-General at the Ministry.
It is important to note that the Director General will conduct periodic monitoring and evaluation once a year and report the results to the Minister.

......

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