date:Nov 28, 2018
hare in global palm sales, but the market is currently oversupplied. Palm oil prices have tumbled in recent months as trade restrictions by top vegetable oil buyer India has led to a build-up of stocks.
Indonesia will gradually increase levies when the palm price reaches at least $500 per tonne, a senior government official said. Palm benchmark futures in Kuala Lumpur at 1,964 ringgit ($468.51) per tonne at 0340 GMT on Tuesday, near its lowest since August 2015.