Indonesia is due to resume exports of palm oil on Monday after a ban of more than three weeks, but industry traders and companies were awaiting details on accompanying rules to secure domestic supplies of the edible oil to control cooking oil prices. The Southeast Asian country, the world’s biggest palm oil producer, halted exports … Read more
Indonesia will effectively ban palm oil exports from April 28, until further notice, after President Joko Widodo on Friday announced a halt of shipments of cooking oil and its raw material to control soaring domestic prices. The measure could further inflame global food inflation that soared to a record high following Russia’s invasion of Ukraine, … Read more
The government cut import duty on crude and refined palm oil, soybean oil and sunflower oil to provide a respite to consumers amid rising food prices ahead of the consumption-driven festive season. In a notification issued late on Friday, the Central Board of Indirect Taxes and Customs (CBIC) notified the changes in customs duty rates, … Read more