Indonesia biggest palm oil group shrugs off new export permit policy

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JAKARTA : Indonesia's biggest palm oil association GAPKI on Wednesday shrugged off a new government policy requiring exporters of the vegetable oil to gain approval for their shipments and declare their domestic sales. The world's top producer and exporter of palm oil has been trying to tame domestic c

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JAKARTA : Indonesia's biggest palm oil association GAPKI on Wednesday shrugged off a new government policy requiring exporters of the vegetable oil to gain approval for their shipments and declare their domestic sales.

In efforts to control prices the Trade Ministry said on Tuesday it would require exporters to obtain shipment approval from the ministry for exports of crude palm oil, used cooking oil and refined, bleached and deodorized palm olein . To secure the trade ministry export permits, palm oil companies must declare that they are supplying these palm oil products to domestic buyers, attaching sales contract proof as well as their six-month plans for exports and domestic distribution.

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