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Oil Report

Indonesia imposes mandatory domestic sales on palm oil -trade minister

JAKARTA, Jan 27 (Reuters) - Indonesia has imposed a rule starting Thursday for a mandatory portion of palm oil to be sold domestically at a maximum price of 9,300 rupiah ($0.6465) per kg for crude palm oil and 10,300 rupiah per kg for olein, Trade Minister Muhammad Lutfi said.

The so-called Domestic Market Obligation (DMO) will be applied to all cooking oil exporters and they will be required to sell 20% of their planned export to the domestic market, Lutfi said.

$1 = 14,385.0000 rupiah Reporting by Bernadette Christina Munthe, Fransiska Nangoy Editing by Ed Davies

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