Indonesia works to resume palm oil exports
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| A farmer harvests palm seeds in Riau, Indonesia. (Photo: AFP/VNA) |
Hanoi - Indonesia has received its first requests for palm oil export permits, some of which could be granted on May 30, Veri Anggriono, a senior official of the Indonesian Ministry of Trade said.
Indonesia, the world’s top palm oil producer, has officially allowed exports to restart from May 23 after a three-week halt. However, companies are facing regulatory hurdles that are slowing the process of getting their shipments out.
The Indonesian government has targeted exporting 1 million tonnes of palm oil based on companies’ domestic sales.
Indonesia is requiring firms to reserve a share of their palm oil exports for the local market under a Domestic Market Obligation (DMO) and to join a bulk cooking oil programme.
Eddy Martono, Secretary General of the Indonesia Palm Oil Association (GAPKI), said he hoped exports could soon return to a pre-ban level of 2.5 million to 3 million tonnes per month.
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