Indonesia exploring higher palm oil levy to offset rising biofuel prices

In Indonesia, Reuters reports that the government plans to raise its levy on palm oil exports to support biodiesel blending but the country’s chief economic minister said whether the increase will be a flat increase or a progressive one was still being evaluated. Currently levies are set at a maximum of $50 per metric ton but biodiesel prices jumped to 4.5-year highs of $0.6877 per liter this month, forcing the government to look for more funds to subsidize costs for drivers.