Indonesian crisis could spur focus on boosting local edible oil production

However, achieving self-sufficiency in edible oil will remain a distant dream unless drastic policy measures are taken

A few days back, Indonesia, the world’s largest producer of palm oil, decided to suddenly ban exports of the commodity to check spiraling domestic prices. But it clarified the very next day that the ban would embrace only select high-value products and exclude mass-consumed crude palm oil.

However, just a few days later, the country once again went back on its decision and upheld the original decision to ban all varieties of palm oil regardless of their quality.

Global and domestoc edible oil prices swung wildly after this policy flip-flop.

The volatile market movements once again exposed India’s much talked