Palm oil reference price raised by 3% in Indonesia

Indonesia has announced a fair price for palm oil, which will be valid from July 1 to July 15, KazakhZerno.kz reports. So far, the reference price for palm oil is $723.45 per ton, but in the period indicated above, it will change and increase to $747.23 per ton (plus three percent). The Ministry of Trade of the country also announced an export tax on it (eighteen dollars per ton) and fee (seventy-five dollars per ton). Palm oil is a product that is obtained from the pulp of the fruit of the oil palm. Palm kernel oil is a product that is made from the kernel of the palm tree. Both types of oil, and coconut oil in addition to them, are classified as tropical vegetable oils. They are mainly produced in countries such as Indonesia and Malaysia. According to ...