Exporters will be allowed to ship six times their domestic sales volume, less than the current ratio of eight times.
Indonesia will tighten export rules for palm oil from January 1 by allowing fewer shipments overseas for every tonne sold domestically, in a move aimed at ensuring sufficient domestic supply.
Exporters will be allowed to ship six times their domestic sales volume, less than the current ratio of eight times, according to a new regulation reviewed by the Reuters news agency and confirmed by an industry official.
“To secure domestic supply, especially for the first quarter of 2023,” said Septian Hario Setio, a senior official at the Coordinating Ministry for Maritime and Investment Affairs, on Friday.
Seto said the ratio will be evaluated periodically by considering the domestic situation, including cooking oil availability and prices.
Indonesia earlier this year introduced export measures on palm oil products amid concerns about cooking oil prices spiralling out of control.
Source : aljazeera.com/ For more details