Palm Oil Climbs Most in Four Years on Indonesian Biofuel Subsidy
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Palm oil advanced the most in more than four years on Indonesia’s plans to boost biodiesel subsidies, which would expand palm demand in the largest producer and consumer.
The parliament’s energy commission and the government approved an increase to 4,000 rupiah ($0.32) a liter from 1,500 rupiah. The move needs to be passed by the budget committee in parliament, the directorate general for oil and gas at the Energy & Mineral Resources Ministry said yesterday.