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Oil prices rise on signals OPEC might cut output | Hellenic Shipping News Worldwide

Oil prices rise on signals OPEC might cut output | Hellenic Shipping News Worldwide
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Indonesia palm oil shares, rupiah rattled by export ban | Hellenic Shipping News Worldwide

Shares of some of Indonesia’s biggest palm oil companies slumped on Monday, while the rupiah headed currency falls in Asia, after the government announced it would ban palm oil exports later this week to help control domesticcooking oil prices. Indonesia, which is the world’s top producer and exporter of the edible oil, sent a shockwave .

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Indonesia tightens palm oil export curbs in new hit to global supplies | Hellenic Shipping News Worldwide

Indonesia will further restrict exports of palm oil from Thursday to increase domestic supplies, as authorities ramp up efforts to contain a surge in cooking oil prices, Trade Minister Muhammad Lutfi said. The world’s biggest producer and exporter of palm oil will require companies to sell 30% of their planned exports of crude palm oil .

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Global market can t dictate Indonesia palm oil policy -minister | Hellenic Shipping News Worldwide

Indonesia’s palm oil price should not be dictated by the external market, its trade minister said on Thursday, backing his decision to expand palm oil export curbs at a time of surging global prices from a global supply crunch. The world’s top palm oil exporter shocked the market a day earlierby announcing that palm companies .

Kuala lumpurMei chuSahat sinagaEd ddaviesMuhammad lutfiEddy martonoIndonesia palm oil boardIndonesia palm oil associationMinister muhammad lutfiDorab mistryKuala lumpur editingMartin petty