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Indonesia to tighten palm oil exports from Jan. 1 to ensure supply

Exporters to be allowed to ship six times their domestic sales volume

Workers load fresh bunches of palm oil fruits for transportation to a factory.   © Reuters

JAKARTA (Reuters) -- Indonesia will tighten export rules for palm oil from Jan. 1 by allowing less to be shipped overseas for every tonne sold domestically, in a move aimed at ensuring there is sufficient domestic supply, a government official said on Friday.

Exporters will be allowed to ship six times their domestic sales volume, less than the current ratio of eight times, according to a new regulation reviewed by Reuters, which was confirmed by an industry official.

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