Indonesia will return to making use of a progressive palm oil export levy system beginning on Sept. 1 and use the income to stabilize home cooking oil costs and fund its biodiesel program, Finance Minister Sri Mulyani Indrawati stated on Saturday.

Her ministry earlier within the day issued a brand new regulation eradicating the export levy on all palm oil merchandise from July 15 to Aug. 31, and set a progressive price ranging between $55 to $240 per tonne primarily based on crude palm oil costs from Sept. 1.
Supply: Reuters (Reporting by Fransiska Nangoy and Stefanno Sulaiman Modifying by Mark Potter)