Indonesia announces palm oil export levies to fund blending subsidies

In Indonesia, the government plans to levy $50 per metric ton on palm oil exports and $30 on olein shipments in order to pay for domestic blending subsidies. The levies will be in addition to export taxes that are currently set at zero but could be invoked again at between 7.5% and 22.5% when prices go above $750 per ton, perhaps as soon as April.