It is now about one month after the national Idul Fitri holiday when millions of city-dwellers travelled by air, road, rail and water back to their places of origin to spend a couple of days with their (extended) families. The positive news is that this huge movement of people did not lead to an increase in the number of COVID-19 cases in Indonesia.
Indonesia came up with the ban on exports vegetable oil as a means of controlling domestic prices, but pressures have been mounting for it to be eased as farmers protested that there were no demand for their palm fruits.
The palm oil export ban by Indonesia is unlikely to have a larger impact on fast-moving consumer goods (FMCG) companies like Hindustan Unilever Limited (HUL) and Godrej Consumer Products Limited (GCPL), Edelweiss Research mentioned in its monthly report. Among other things, both companies also manufacture soaps that use palm oil as a key ingredient. Get more Companies News and Business News on Zee Business.