Mumbai, 27 January (Commoditiescontrol) Indonesian government has made it mandatory to allocate 20% of the total volume palm oil shipment for local supply, as per report.
“The govt requires Indonesian palm oil exporters to allocate 20% of their shipment volume for local supply, the report said quoting Trade Minister Muhammad Lutfi.
“Indonesia has imposed a rule starting Thursday for a mandatory portion of palm oil to be sold domestically at a maximum price of 9,300 rupiah ($0.6465) per kg for crude palm oil and 10,300 rupiah per kg for olein, the report added.
The so-called Domestic Market Obligation (DMO) will be applied to all cooking oil exporters and they will be required to sell 20% of their planned export to the domestic market, Lutfi said.
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