News Karnataka
Saturday, October 01 2022
Asia

Jakarta: Indonesia extends zero export levy on palm oil

zero export
Photo Credit : IANS

Jakarta: Indonesia has extended its zero-levy policy for palm oil exports until October 31, the Coordinating Ministry for Economic Affairs said.

“The extension of the export levy tariff of $0 will maintain the current momentum where the prices of crude palm oil and domestic cooking oil have stabilized, and the price of fresh fruit bunches has increased so that farmers could enjoy the benefits,” said Coordinating Minister for Economic Affairs Airlangga Hartarto.

Indonesian palm oil producers have struggled with high stockpiles after the country imposed a three-week export ban from April 28 to May 23 to reduce domestic cooking oil prices.

The temporary policy of cutting the palm oil export levy to zero from around $200 per ton was introduced by the world’s largest palm oil producer in July, to boost exports and reduce oversupply in the domestic market.

Share this:
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Leave a Reply

Your email address will not be published.

Visit 7Jackpots and find the best online casinos in India! Play the most popular casino games for real money!

Find the best odds at 10Cric and ipl betting 2021! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp