JAKARTA/MUMBAI (Reuters): Indonesian palm oil producers are whittling down their hefty inventory overhang with discounts versus rivals and aggressive sales to India, where demand is picking up for next month's Diwali festival, industry officials said.
Backed by Jakarta's waiver of palm oil export levies, which was recently extended to Oct 31 and reversed course from an export ban in May that had shut them out of global trade, producers are moving in to lighten up their stocks at tempting prices.
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