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Economy

Cargill warns on Indonesian curbs

JAKARTA -- One of the world's largest agribusinesses has warned that Indonesia's proposal to sharply lower the cap on foreign ownership of oil palm plantations will deter foreign investment in the industry. Indonesia is the world's biggest producer and exporter of palm oil.

     John Hartmann, CEO of Cargill Tropical Palm Holdings, told the Nikkei Asian Review that a draft bill proposing the ownership cap reduction came as a surprise and said his company hopes the Indonesian parliament will reconsider the move.

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