16/07/2015 (Biofuels Digest) - In Indonesia, the fund developed to administer the levy collected on palm oil exports—about $337.36 million in 2015—is about ready to start operating. The levy goes into effect Thursday.

The Indonesia Oil Palm Estate Fund is led by former deputy trade minister Bayu Krisnamurthi who estimates that the fund could generate upwards of $700 million in future years.

The fund’s first project is to reforest 2,000 ha with oil palm trees.