Indonesia plans to increase export duty on palm oil
Indonesia plans to raise the export duty on palm oil to 4.5-10% of the base price. The duty is currently 3-7.5%. This was reported by the Reuters agency.
This measure will finance the mandatory increase in the amount of palm oil in biodiesel.
As stated by the Director of the Palm Oil Fund Management Agency Kabul Widjayanto, the Indonesian authorities will introduce the new duty three days after the publication of the decree, which is still under consideration.
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