Indonesia Lifts Palm Oil Export Ban in Relief to Global Market
- Shipments were halted since April 28 to ensure domestic supply
- Move was one of the most dramatic cases of food protectionism
Workers load harvested palm oil fruit bunches into a truck in East Kalimantan, Borneo, Indonesia.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
Indonesia, the world’s biggest shipper of edible oils, lifted a ban on palm oil exports in a move that will bring relief to the global market after the war in Ukraine choked off critical supplies.
Palm oil exports can resume from May 23, President Joko Widodo said in an online briefing on Thursday. This is after considering improvements in local supply and prices, as well as the 17 million workers in the industry, he added.