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Data Analysis

Indonesia's Domestic Palm Oil Prices Retract As Export Ban Takes Effect

RBD Palm Oil
Vegetable Oil
RBD Palm Oil
Indonesia
Market Situation

Summary

Domestic palm oil prices in Indonesia dropped 8% for the week ended May 2nd, after the government announced a complete ban on palm oil exports. The ban on palm oil exports is yet another attempt by the Indonesian authorities to bring down domestic prices and ensure the availability of cooking oils domestically. According to Indonesia's president, Joko Widodo, the ban will remain in place until domestic demand is met and prices stabilize.
May 3, 2022
By Theo Venter
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