Indonesia May Change Palm Oil Export Tax to Counter Malaysia Cut
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Indonesia, the world’s largest palm oil producer, is discussing changes to its export tax structure to counter competition from Malaysia which will cut tariffs from Jan. 1 to boost shipments and pare record inventories.
“We will decide soon to provide certainty in 2013,” Agriculture Minister Suswono told reporters at an industry conference in Bali, Indonesia today. The tax changes will be aimed at reducing stockpiles that are near Indonesia’s maximum storage capacity, he said.