JAKARTA: Indonesia will tighten export rules for palm oil from Jan 1 by allowing less shipments overseas for every tonne sold domestically, in a move aimed at ensuring there was sufficient domestic supply, a government official said on Friday .
"To secure domestic supply, especially for the first quarter of 2023," said Septian Hario Setio, a senior official at coordinating ministry of maritime and investment affairs, in explaining the reason behind the policy change. Indonesia earlier this year had a battle to keep cooking oil prices from spiralling out of control and introduced export measures on palm oil products with varying degrees of success to try to ensure supply and bring the price down.
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