Indonesia to Swap Subsidy for Raw Materials Price Caps to Ensure Cooking Oil Supply
KONTAN.CO.ID - JAKARTA. Indonesia, the world's biggest palm oil exporter, will next month remove a subsidy on bulk cooking oil and replace it with a price cap on the raw materials sold to local refiners. A senior official said on Tuesday.
Indonesia allowed the resumption of exports of crude palm oil and its derivatives from Monday but will implement a policy of obligatory domestic sales at a certain price level, known as a domestic market obligation (DMO), to secure the supply of the vegetable oil at home.
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