(Bloomberg) -- Palm oil futures rose on concern
that supply of the vegetable oil on international markets may
lag behind demand after Indonesia increased export taxes on
crude and refined palm oil products.
Indonesia, which with Malaysia controls almost 90 percent
of world palm oil output, will raise crude palm oil exports to
6.5 percent of a base price to be decided by the trade ministry,
up from 1.5 percent, top economics minister Boediono said in
Jakarta on June 15. The new tax rates, aimed at boosting
domestic supply and curbing price gains, took effect immediately.
Read more at Bloomberg Commodities News
that supply of the vegetable oil on international markets may
lag behind demand after Indonesia increased export taxes on
crude and refined palm oil products.
Indonesia, which with Malaysia controls almost 90 percent
of world palm oil output, will raise crude palm oil exports to
6.5 percent of a base price to be decided by the trade ministry,
up from 1.5 percent, top economics minister Boediono said in
Jakarta on June 15. The new tax rates, aimed at boosting
domestic supply and curbing price gains, took effect immediately.
Read more at Bloomberg Commodities News
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