18/03/2015
Indonesia may revive palm oil export levy, says Oil World
Indonesia, the top palm oil producer and shipper, may follow main rival Malaysia and reintroduce an export tax on crude palm oil, Oil World cautioned. Malaysia on Monday revealed that it would in April reintroduce an export tax on crude palm oil, at a rate of 4.5%, since when futures in the vegetable oil have tumbled by nearly 5% in Kuala Lumpur on ideas of reduced demand. "Indonesia may follow the example of Malaysia and reintroduce the export tax on crude palm oil soon", Oil World said. Crude vs processed