Indonesia reduces palm oil exports to ensure supply at home
RBD Palm Oil
Indonesia
Published Jan 9, 2023
Tridge summary
Indonesia, the world’s biggest palm oil producer, will cut its overseas shipments of the commodity, as it tightens a policy requiring companies to keep more supply at home. The government cut the amount producers can export to six times the domestic sales requirement, down from eight times currently, Vietnam news agency (VNA) reported Budi Santoso, […]
Original content
Indonesia, the world’s biggest palm oil producer, will cut its overseas shipments of the commodity, as it tightens a policy requiring companies to keep more supply at home. The government cut the amount producers can export to six times the domestic sales requirement, down from eight times currently, Vietnam news agency (VNA) reported Budi Santoso, Director General of foreign trade at the Indonesian Trade Ministry, said. The change took effect from Jan 1, it added. VNA also reported Firman Hidayat, an official at the Coordinating Ministry for Maritime Affairs and Investment, said the Indonesian government wants to ensure ample domestic supply during the Ramadan and Aidilfitri holidays in April as production will be seasonally weaker in the first quarter. On the contrary, the tightening of ...
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