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Indonesia resumes palm oil exports

Indonesia has resumed its palm oil exports from May 23 after a three-week ban.
Indonesia resumes palm oil exports ảnh 1Indonesia is the world's biggest palm oil producer. (Photo: AFP/VNA) 
Hanoi (VNA) – Indonesia has resumed its palmoil exports from May 23 after a three-week ban.

However, shipments are not likely to restart until details emerge on how much of the edible oil must beheld back for domestic use, industry players said.

Indonesia, the world's biggest palm oil producer,halted exports of crude palm oil and some derivative products on April 28, inan attempt to bring down soaring local prices of cooking oil.

The ban rattled global edible oil markets at a timeof supply shortages due to the war in Ukraine.

Indonesian President Joko Widodo expressedconfidence that bulk cooking oil was generally heading towards the target priceof 14,000 rupiah (0.95 USD) per litre.

Indonesia's Trade Ministry has issued rules statingthat companies must obtain an export permit that would be granted only to thoseable to meet a so-called Domestic Market Obligation (DMO).

Indonesia plans to retain 10 million tonnes ofcooking oil supplies at home under the DMO rules, Chief Economics MinisterAirlangga Hartarto said./.


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