JAKARTA : Indonesia will lower its mandatory domestic sales threshold for palm oil producers to 300,000 tonnes a month starting in May, from 450,000 tonnes currently, the Trade Ministry said on Thursday.The world's top palm oil producer tightened exports earlier this year in anticipation of higher domest
JAKARTA : Indonesia will lower its mandatory domestic sales threshold for palm oil producers to 300,000 tonnes a month starting in May, from 450,000 tonnes currently, the Trade Ministry said on Thursday.
The world's top palm oil producer tightened exports earlier this year in anticipation of higher domestic demand for cooking oil ahead of the holy Islamic month of Ramadan, which started in late March this year.The government will tighten the ratio of palm oil exports to four times the volume producers have sold domestically from six times the volume, but ease the ratio for some cooking oil products, another official said.
Meanwhile, the government earlier this year also froze around 3 million tonnes worth of palm oil export permits. These permits will be allowed to be used in stages within the next nine months, senior trade official Budi Santoso added.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Indonesia’s 2024 presidential election may boil down to a fight between VP candidates: AnalystsThe right running mate could pull in three to five percentage points in electoral gains for a candidate. Read more at straitstimes.com.
Read more »
Hassan may look to emulate Zatopek's distance triple in ParisAMSTERDAM : London Marathon women's champion Sifan Hassan may try to emulate Czech great Emil Zatopek by going for gold in the 5,000m, 10,000m and marathon at next year’s Paris Olympics, according to reports on Tuesday.The 30-year-old Dutch athlete, who won the Olympic 5,000m and 10,000m titles in Tokyo
Read more »
Kremlin remains downbeat on state of Black Sea grain deal which expires on May 18Russia has hinted it won't let the deal be extended unless obstacles to its own exports are removed. Read more at straitstimes.com.
Read more »
MAS says increase in home rents may moderate in coming quarters as housing supply ramps upThe central bank said supply and demand imbalances in the rental market “have already started to ease and will continue to do so progressively through this year”.
Read more »
New BOJ chief's first task may be to tweak forward guidanceTOKYO : Japan's new central bank chief is likely to keep monetary settings ultra-loose at his debut meeting on Friday, but may consider dropping references to the COVID-19 in forward guidance as the pandemic fades as an economic risk. While such a tweak would not have material implications for polic
Read more »
FairPrice Group to offer discounts on some essential items like rice to mark May DayThe group said it is doing so to help its workers and members with the rising cost of living. Read more at straitstimes.com.
Read more »