Indonesia ban on palm oil exports starting April 28 rattles Indian markets

The country meets almost 45% of India's annual palm oil demand; media reports say ban put in place to check soaring domestic prices of the commodity

edible oil
Premium

(Photo: iSTOCK)

Sanjeeb MukherjeeAgencies New Delhi
In what could have a devastating impact on edible oil prices and supplies in India, Indonesia, which is the world’s largest producer of palm oil and meets nearly 45 per cent of the total palm oil supplied into India annually, has decided to ban exports from April 28 till further notice.
The exports as per media reports has been halted to check soaring domestic prices of palm oil which has created a scenario of unrest in the country.
India imports around 13-13.5 million tonnes of edible oils every year, of which around 8-8.5 million tonnes (around 63 per cent) is palm oil.

First Published: Apr 22 2022 | 9:28 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com