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Market Chatter: Indonesia to Include All Major Commodities in Export Overhaul

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Indonesia plans to include all its major commodities in a new export proposal that will go into full effect by Dec. 31, Bloomberg reported Friday, citing a government release.

The country's major palm oil product exports, in addition to coal and ferronickel shipments, will be taken over by a new state firm as part of efforts to combat under-invoicing and under-accounting.

Prior to full implementation, exporters can continue shipping as usual but will be required to share transaction reports to newly established state-owned entity PT Danantara Sumberdaya Indonesia.

Starting next year, Danantara Sumberdaya will take over the entire export process from contracts to shipping and payments, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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