Indonesia raises price cap in palm oil domestic scheme, trade ministry says


JAKARTA: Indonesia has revised its rules on its palm oil domestic market obligation (DMO) scheme, raising the price cap in a bid to improve supplies of cheap cooking oil, the trade ministry said.

Indonesia, the world's biggest palm-oil exporter, obliges producers to sell a portion of their output to the local market at a capped price in order to gain export permits.

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Indonesia , palm oil , domestic scheme , price hike

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