JAKARTA, Indonesia (AFP) — Indonesia will lift its ban on palm oil exports next week, President Joko Widodo said Thursday, relieving pressure on the global vegetable oil market after prices spiked because of the suspension and the war in Ukraine. The archipelago nation issued the ban last month to secure supplies of the commodity, used in a range of goods from chocolate spreads to cosmetics, in the face of a domestic shortage. “Based on […]
Tag: vegetable oil
Indonesia suspends all exports of palm oil, raising risk of destabilizing global vegetable oil market
JAKARTA, Indonesia (AFP) — Indonesia began imposing a complete ban on palm oil exports Thursday, as the world’s largest producer of the commodity risked destabilising a global vegetable oil market already hitting peak prices. The archipelago nation is facing a domestic shortage of cooking oil as well as soaring prices, with consumers in several cities having to queue for hours in front of distribution centres to buy the essential commodity at subsidised rates. Authorities […]





