(Bloomberg) -- Indonesia, the world's largest palm
oil producer, will export 6 percent less of the tropical oil
this year after raising taxes on shipments to ensure that local
supplies are adequate, Trade Minister Mari Pangestu said.
``It will provide enough of a dampening effect domestically,
and will stabilize domestic cooking oil prices,'' Pangestu said
in an interview in Singapore. Cooking oil in the country is made
from palm oil, the price of which rose to a record this month.
Read more at Bloomberg Commodities News
oil producer, will export 6 percent less of the tropical oil
this year after raising taxes on shipments to ensure that local
supplies are adequate, Trade Minister Mari Pangestu said.
``It will provide enough of a dampening effect domestically,
and will stabilize domestic cooking oil prices,'' Pangestu said
in an interview in Singapore. Cooking oil in the country is made
from palm oil, the price of which rose to a record this month.
Read more at Bloomberg Commodities News
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