Indonesia to tighten palm oil exports from Jan. 1 to shore up supply ahead of Ramadan

JAKARTA: Indonesia will tighten export rules for palm oil from Jan. 1 by allowing less shipments overseas for every tonne sold domestically, to ensure sufficient and affordable cooking oil supply at home, officials said on Friday.

Exporters will be allowed to ship six times their domestic sales volume, less than the current ratio of eight times, according to officials and a new regulation reviewed by Reuters.