Indonesia, the largest producer of palm oil, will ban the export of palm oil ‘until further notice’ from April 28. President Joko Widodo announced this on Friday.
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In this way rising domestic prices and deficits should be kept under control. The ban also applies to other types of cooking oil and its ingredients.
With his policy, Widodo hopes for sufficient and affordable cooking oil for the Indonesian population. The shortages arose as a result of the war in Ukraine. The country is a major supplier of sunflower oil, but deliveries stopped due to the war. Many companies therefore turned to palm oil and caused new shortages.
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