Indonesia may need to lower export levy on palm oil as prices weaken

In Indonesia, the head of the country’s new agency administering funds collected from the palm oil levy says that the government should consider lowering the palm oil export levy from the current $50 per metric ton because it will be a burden on exporters as prices continue to fall. Already the agency has collected about $200 million from the export levy so far this year with estimates of roughly $700 million next year, funds that go to subsidizing higher blends of biodiesel domestically.