Indonesia raises palm oil export quota as farmers face 'emergency'

JAKARTA, July 5 (Reuters): Indonesia has raised the palm oil export quota in a bid to cut soaring inventories of the edible oil, a Trade Ministry official said on Tuesday, as a council member in a plantation area warned farmers faced an "emergency" due to tumbling prices.

The world's top palm oil producer has been forced to overhaul its policies after a three-week export ban that ended on May 23 caused a massive build-up of domestic stocks and angered farmers by sending prices of palm fruit lower.