Indonesia blocks palm oil exports, chaos and inflation in the world markets for vegetable oils

Published 2022년 4월 26일

Tridge summary

Indonesia has unexpectedly announced a global ban on palm oil exports, effective from April 28, a decision that could potentially escalate global food inflation. This action could lead to a shortage of vegetable oils, impacting countries like India and Europe, where palm oil is used in various food products and biodiesel production. The move could also be linked to the negative campaign against palm oil in the West and the reduced production of sunflower oil due to the Ukraine conflict. In contrast, Russia is projected to have a record wheat harvest in 2022, with an expected yield of 87.4 million tons, despite climate challenges in North America and Europe causing concerns in wheat production.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Today's news comes from Indonesia with the blocking of palm oil exports all over the world for an indefinite period. The news was announced on the Facebook page of Friends of the "Sicilian durum wheat" last week. Today the scenarioeconomici.it newspaper dedicates an article to him. "Indonesia - writes scenarioeconomici.it - the world's leading producer of palm oil, announced its intention to ban exports of the world's most used vegetable oil last Friday, with a shocking move that could further inflame the increase global food inflation. The action will be carried out starting from next April 28 ... The move comes completely unexpected and will put the food industry in crisis in half the world starting from India, one of the main users, but we too will be heavily affected: oil palm is one of the main products used in the synthesis of vegetable margarines, it is used in spreads, especially in products with lower costs. This decision, which hopefully will be temporary, will skyrocket ...

Source: Inuovivespri