Indonesia considering scrapping domestic sales rule for palm oil exports

JAKARTA: Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding back a recovery of palm oil fruit prices, the trade minister said on Friday.

Since ending a temporary ban on exports in late May, the world's biggest palm oil producer has required companies to sell a portion of output at home before issuing export permits, a policy known as DMO, in a bid to control cooking oil prices.