While the president has shown he is prepared to act tough to squeeze more out of Indonesia’s rich resources, policy U-turns have at times caught some senior officials off guard
29 April 2022 - 11:44
Underlining his focus, the president, whose approval rating has sagged in some recent polls over higher living costs, said this week the need for affordable food trumped revenue concerns in the world’s bigger palm oil producer. Then came export permits in late January initially requiring 20% of sales of some products to the domestic market, which was later increased to 30% and with a ceiling price on cooking oil.
Jokowi this month announced cash transfers for more than 20-million low-income households to buy cooking oil and on April 22 declared a new ban on exports, sending Malaysian palm oil futures to six-week highs.
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