Indonesia to reinstate $50 palm oil export levy from January 1

In Indonesia, Cogencis news agency reports the Oil Palm Plantation Fund Management Agency expects to reinstate the $50 per metric ton export levy on palm oil exports following the agency’s $80 per ton increase in the reference price for January to $729.72 from December’s $650.18. A lower levy is lobbed on exports of downstream palm products as well. Collection of the levy that is used to subsidize biodiesel blending had been suspended since March 1 due to low palm oil prices.