News: Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finance ministry officials said on Saturday, adding the move would not disrupt government revenues.
Views: This would further bring down palm oil prices, which has already corrected by 50% in last few months. The dip in palm oil would in turn bring down prices of other edible oils. Moreover, it will also bring relief to sops & other personal care product manufacturers.
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