Commodity Buzz: Indonesia Bans Palm Oil Exports

25 Apr 2022 , 05:21 PM

Indonesia, the worlds top palm oil producer, announced plans to ban exports of the most widely used vegetable oil, in a shock move that could further inflame surging global food inflation. Indonesia announced its plans to ban export of palm oil from 28 April 2022. The country is the worlds top palm oil producer while India is the worlds largest importer of edible oils, and specifically the highest importer of palm oil and soyabean oil. The halting of shipments of the cooking oil and its raw material, widely used in products ranging from cakes to cosmetics, could raise costs for packaged food producers globally and force governments to choose between using vegetable oils in food or for

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