Indonesia began imposing a complete ban on palm oil exports Thursday, as the world's largest producer of the commodity risked destabilising a globa...
The export ban comes as domestic consumers have faced soaring prices and shortages, leading to some being forced to queue for hours for the essential commodity.JAKARTA - Indonesia began imposing a complete ban on palm oil exports as the world's largest producer of the commodity risked destabilising a global vegetable oil market already hitting peak prices.
In a last-minute reversal late Wednesday, they clarified the embargo would include all exports of the oilseed and not only products intended for edible oils, as indicated a day earlier. "As the world's largest palm oil producer, it is ironic that we are having difficulties getting cooking oil," he said.
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