Indonesia’s Palm Oil Export Ban: Cooking Oil, Food Prices Set To Spike On, Indian Edible Oil Market To Take A Hit

Indonesia has decided to ban exports of cooking oil and its raw materials to reduce domestic shortages and hold down skyrocketing prices.

Their President Joko Widodo made the announcement amid protests in the country’s capital against rising food costs.
Indonesia and Malaysia are the world’s largest exporters of palm oil. Edible oil prices were already up but Indonesia’s recent ban on exports of cooking oil is going to make it worse.