Indonesia to halt its palm oil export levy temporarily until prices improve

In Indonesia, Reuters reports that the government is looking to drop its levy on palm oil exports that funds biodiesel blending subsidies in an effort to provide relief to farmers who are suffering from low prices. The regulation will come into effect as soon as the ministry can put it together but the $25 per metric ton levy will return once prices are back above $500 per ton, and as high as $50 per ton when prices pass $550.