Tuesday, May 1, 2007

Indonesia May Boost Palm Export Tax to Cut Cooking Oil Cost, Official Says

(Bloomberg) -- The government in Indonesia, the world's second-largest palm-oil grower last year, may double the export levy on shipments unless producers set aside enough to prevent inflated prices of cooking oil, an official said.

``The vice president will decide to lift the export duty in June'' unless cooking oil prices are 6,500 to 6,800 rupiah a kilogram by the end of May, Djoko Said Damarjati, director general of marketing for agricultural products, said today.


Read more at Bloomberg Commodities News

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