Indonesia considering cutting palm oil export levy to spur shipments

Malaysian benchmark palm oil prices has dropped by 18% so far this month.

JAKARTA: Indonesia is considering cutting its palm oil export levy to encourage more shipments, a cabinet minister said on Thursday, another move to spur exports after a ban designed to protect domestic cooking oil supplies saw palm oil inventories swell.

The world's biggest producer of the edible oil has unrolled a series of policies aimed at stimulating exports after a three-week ban on shipments that ended in late May triggered disruption at home and abroad.