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Indonesia to increase palm oil export quota

Posted by Rafael Moro

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Image: Pixabay

Indonesia raised palm oil export quotas on Saturday, allowing companies that trade the commodity domestically to export up to seven times the volume of their domestic sales from July 1, according to information from a minister. at the highest levels of government. Earlier, the Minister of Maritime Affairs and Investment, Luhut Pandjaitan, said that the government also intends to implement a plan to increase the mandatory blending of biodiesel, currently by 30%, to 35% or 40%, depending on the supply and price of crude palm oil. The country is the largest global producer and exporter of the product.

This text was translated by machine from Brazilian Portuguese.