Palm oil refiners brace for Indonesia's proposed export duty change

Jaaffar says any arbitrary decision by Indonesia to re-structure its palm oil export tax structure will undermine the stability of CPO prices.

PETALING JAYA: Local palm oil refiners are bracing for the impact of Indonesia’s proposed changes to its palm oil export duty structure.

Palm Oil Refiners Association of Malaysia (PORAM) chief executive officer Mohammad Jaaffar Ahmad said: “Any arbitrary decision by Indonesia to re-structure its palm oil export tax structure will undermine the stability of crude palm oil (CPO) prices vis-à-vis processed palm oil prices for both countries.”