Indonesia will only ban exports of refined, bleached and deodorised palm olein starting from Thursday (April 28), while the ban will not include crude palm oil or other forms of derivative products, senior government official Musdhalifah Machmud said on Tuesday.
Nirmal Narayanan RIYADH: Chicago wheat futures rose on Tuesday as a decline in US winter crop conditions heightened concerns over global supplies, which have already been hit by Russia’s invasion of Ukraine. Corn rose for a second straight session as a slow start to US planting underpinned prices. The most-active wheat contract on the Chicago Board of Trade rose 1.2 percent to
RBD palm olein accounts for about 40% of Indonesia's total shipments of palm oil products, according to analysts' estimates, which means the ban could significantly affect export earnings in Southeast Asia's biggest economy.
Indonesia is prepared to widen its ban on exports of refined palm olein if it faces domestic shortages of derivatives used in the production of cooking oil, according to details presented at a meeting between government and industry officials.