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Indonesia to lift palm oil export ban from Monday, says President

The lifting of the ban came after hundreds of farmers rallied to protest the move, saying their incomes have suffered because prices of their fresh fruit bunches plunged

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Indonesia’s ban, which was imposed since Apr 28, was one of the biggest acts of crop protectionism since Russia’s invasion of Ukraine, which stymied exports of sunflower oil (Photo: Bloomberg)

Agencies
Indonesia will lift its palm oil export ban from Monday, following improvements in the domestic cooking oil supply situation, President Joko Widodo said on Thursday.

The world's top palm oil exporter has since April 28 halted shipments of crude palm oil (CPO) and some derivative products to try to tame soaring prices of domestic cooking oil.

The decision comes despite bulk cooking oil having not yet receded to the targeted 14,000 rupiah per litre price, as the government considers the welfare of 17 million workers in the palm oil industry, the president said in a video statement. Jokowi, as the president is

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: May 19 2022 | 3:59 PM IST

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