Indonesia to stop all shipments of palm oil from April 28

JAKARTA - Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto on Wednesday announced a ban on exports of all palm oil products beginning April 28, 2022.

The products include crude palm oil; red palm oil; refined, bleached, deodorised (RBD) palm olein; palm oil mill effluent (POME), and used cooking oil, he said in a statement today.On Tuesday, the minister said the country will only halt shipments of RBD palm olein.The Indonesian government will review the policy periodically and it will remain until prices of domestic cooking oil drop to 14,000 rupiah (RM4.21) per litre.The country will impose the export ban policy on all RBD palm olein producers and applied on the products under harmonised system codes 15119036, 15119037 and 15119039.Indonesia’s National Strategic Food Price Information Center data on Tuesday showed the price of bulk cooking oil was at 19,450 rupiah per litre, falling 1.52 per cent or 300 rupiah compared with Monday’s price.Earlier, the republic's Agriculture Ministry, in its circular letter to governors, said crude palm oil (CPO) shipments would be excluded from a planned palm oil export ban.President Joko Widodo, last Friday, announced the ban on palm oil exports from April 28, 2022, until further notice to ensure the fulfilment of domestic needs amid price rises. - Bernama