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INDONESIA, the world’s biggest palm oil producer, is set to export less of the commodity overseas as it tightens a policy requiring companies to keep more supply at home.
The government will cut the amount producers can export to six times the domestic sales requirement, down from eight times currently, according to Budi Santoso, director general of foreign trade at the trade ministry. The change will take effect from Jan 1, he said by text message on Friday (Dec 30).