Indonesia hikes palm oil export levy amid accusations of 'policy panic'

JAKARTA, March 18 (Reuters): Indonesia has significantly raised its maximum palm oil export levy, a new government regulation showed on Friday, marking a new bid to control domestic cooking oil prices after previous measures failed to tackle the problem.

The world's biggest exporter of the edible oil a day earlier announced a surprise policy U-turn to remove export volume restrictions on palm oil products and raise its export levy instead.