The country is the world’s largest producer of palm oil but has faced shortages since November.
Article written by
Posted
Update
Reading time : 1 min.
Indonesia will ban exports of palm oil and other vegetable oils from April 28, its president Joko Widodo announced on Friday April 22. The country is the world’s largest producer of palm oil, but has faced a shortage of cooking oil in its domestic market since November.
“The government will ban the export of raw products used for cooking oil and cooking oil (…) until a date to be determined later., said the Head of State. Producers have favored exports to benefit from the rise in world prices, but the government is worried about the development of social tensions in the face of rising prices, accentuated by the consequences of the war in Ukraine.
The supply of palm oil has become increasingly difficult, and long queues of consumers have been seen across the country. The country, which already started limiting exports at the end of January, will “monitor and evaluate the application of this policy so that cooking oil in the country is abundant and affordable”, continued the president. Palm oil, widely exported for industry, from cosmetics to food products, is singled out for encouraging deforestation and the slaughter of endangered animals.