Indonesia to continue palm oil domestic market obligation policy into 2024
Indonesia will continue its domestic market obligation (DMO) for palm oil into 2024 to maintain price stability of cooking oil, Trade Ministry official Isy Karim said on Thursday.
Indonesia, the world’s biggest palm oil producer, imposed the DMO policy last year to rein in soaring prices of cooking oil. Under the scheme, producers are only allowed to export once they have sold a portion of their products to the domestic market.
The ratio of exports to domestic sales will also be maintained at the current level, where palm oil companies are allowed to export four times the volume they have sold through the DMO mechanism, Isy told an industry conference in Indonesia’s Bali island.
He said there were still occasional shortages of cheap cooking oil in the domestic market and prices in the eastern, more remote parts of Indonesia are above the government-imposed price cap of 14,000 rupiah ($0.8836) per litre.
Read also
Registration for BLACK SEA GRAIN.KYIV goes on – join with Early Ticket by Ja...
Dry weather hits Argentina’s corn crop
Spain cuts orange supplies due to low harvest
Oilseed processing in Ukraine has reached its peak in recent years thanks to expor...
China Updates Registration Rules for Foreign Food Manufacturers
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon