Indonesia reduces palm oil exports to ensure supply at home

JAKARTA, Jan 6 (Bernama): Indonesia, the world’s biggest palm oil producer, will cut its overseas shipments of the commodity, as it tightens a policy requiring companies to keep more supply at home.

The government cut the amount producers can export to six times the domestic sales requirement, down from eight times currently, Vietnam news agency (VNA) reported Budi Santoso, Director General of foreign trade at the Indonesian Trade Ministry, said.