Indonesia waives palm oil export levy to cut bloated stockpiles

The export levy is cut to zero from US$200 a ton for crude palm oil starting from July 15, according to a rule posted on finance ministry website. - Bloomberg

JAKARTA, July 16 (Bloomberg): Indonesia will waive its palm oil export levy until the end of August in a fresh attempt to boost shipments and reduce its overflowing stockpiles.

The export levy is cut to zero from US$200 a ton for crude palm oil starting from July 15, according to a rule posted on finance ministry website.