In Indonesia, the country will raise its export tax on crude palm oil to 10% but will keep the export tax on biodiesel at 2.5%. Global palm oil prices have risen 12% since October, so the government is in essence giving biodiesel producers an 8% incentive to ramp up biodiesel production while ensuring that enough crude oil will remain in the country for cooking needs. The country exported nearly 30,000 metric tons of palm oil biodiesel to the EU during the first 25 days of October.
More on the story.
