Indonesia issues domestic sales rules for palm oil companies, plans industry audit

JAKARTA : Indonesia will determine palm oil producers' mandatory domestic sales volume based on their refining capacity and local demand for cooking oil, a trade ministry regulation document showed on Wednesday, as the government plans an industry audit.

Each company's compliance with the DMO will be used as the basis for the volume they are allowed to export, the regulation reviewed by Reuters stated. Producers and exporters will also be required to participate in the government's bulk cooking oil programme. The industry ministry on Wednesday released a separate regulation stating that data from its bulk cooking oil distribution platform will also be used to determine export permit issuance.

Luhut's spokesperson, Jodi Mahardi, said on Wednesday the government will audit companies' land size, partnership with nearby smallholder farmers, and tax reports, among others.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Indonesia to audit palm oil companies, ask for onshore HQ -officialJAKARTA : Indonesia will audit all palm oil companies operating in the country and require them to move their headquarters onshore amid efforts to improve governance of the sector, senior cabinet minister Luhut Pandjaitan told local media.The industry has faced heightened scrutiny and a series of flip-flo
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Indonesia to audit palm oil companies, ask for onshore HQ
Source: STForeignDesk - 🏆 4. / 71 Read more »