Palm oil reference price raised by 3% in Indonesia
RBD Palm Oil
Indonesia
Published Jun 29, 2023
Tridge summary
Indonesia has announced an increase in the fair price for palm oil from $723.45 per ton to $747.23 per ton, valid from July 1 to July 15. The Ministry of Trade also introduced an export tax of $18 per ton and a fee of $75 per ton on palm oil. Malaysia is forecasted to produce 18.95 million tons of palm oil in 2023, while Indonesia is expected to produce 49.78 million tons.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
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 ...
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