- Posted by Eduardo Moreno
The Indonesian government is set to temporarily restrict crude palm oil (CPO) exports in a bid to combat rising cooking oil prices by forcing producers to prioritise domestic markets, the Jakarta Post wrote on 20 January.
From 24 January, CPO exporters would need to show proof of selling CPO domestically each time they applied for export permits, the trade ministry said, with the restrictions in place for six months and export approval documents withheld until receipt of such proof.
All exporters are subject to this policy, according to the report, including those that had never supplied domestic markets and were not affiliated with cooking oil producers.
Prior to the new rule, exporters were only required to complete customs declarations for shipments, a China News report on 24 January said.
Source: Oils & Fats Internacional (OFI)