Indonesia palm oil firms to get bigger export quotas under new rules

FILE PHOTO: Trucks with palm oil fresh fruit bunches queue for unloading at a factory in West Aceh, Indonesia, May 17, 2022, in this photo taken by Antara Foto. - Reuters

JAKARTA, June 28 (Reuters): Indonesian palm oil companies will be offered larger export quotas under new plans to adjust rules on local cooking oil sales, officials said on Tuesday, part of government efforts to improve domestic distribution after a months-long price crisis.

The world's biggest exporter of palm oil shocked global markets late in April by banning shipments of the edible oil for three weeks to try to bring down stubbornly high domestic cooking oil prices.