Indonesia to ban exports of palm oil from Apr 28

INDONESIA will effectively ban palm oil exports from Apr 28, after President Joko Widodo said on Friday (Apr 22) he had decided to stop shipments of cooking oil and its raw material to control domestic prices.

Indonesia makes cooking oil from palm oil and is the world's biggest exporter of the vegetable oil.

The country moved to restrict palm oil exports in late January, but later lifted the restrictions in March, moves that have sent global prices of the commodity to historic highs.

In a short video broadcast, Jokowi, as the president is popularly known, said the policy is to ensure availability of food products at home.

"I will monitor and evaluate the implementation of this policy so availability of cooking oil in the domestic market becomes abundant and affordable," he said. REUTERS