JAKARTA: Indonesia is seeking a balance between capitalising on high global palm oil prices while ensuring food at home is affordable, a senior government official said on Wednesday, amid the country's ongoing ban on exports of the vegetable oil.
JAKARTA (Reuters): Indonesia is seeking a balance between capitalising on high global palm oil prices while ensuring food at home is affordable, a senior government official said on Wednesday (May 11), amid the country's ongoing ban on exports of the vegetable oil.
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JAKARTA - Indonesia will ban exports of RBD palm olein from midnight on April 28 until prices of bulk cooking oil drop to 14,000 rupiah (S$1.34) per litre, a senior minister said on Tuesday (April 26), while a document showed it was prepared to widen the ban if there are shortages. The export ban will be imposed on all producers.
Indonesia is prepared to widen a palm oil export ban, which currently only applies to refined palm olein, if local shortages of derivative products used in cooking oil occur, according to details of an official meeting with companies. The world’s biggest palm oil exporter plans from Thursday to stop shipments of refined, bleached and deodorized .