Indonesia: Cooking oil exports banned, this is a country shout to Jokowi

Published 2022년 4월 25일

Tridge summary

Indonesian President Joko Widodo has imposed a ban on the export of crude palm oil and cooking oil, effective from April 28, 2022, with the end date yet to be decided. This decision is aimed at ensuring the availability of cooking oil within the country at affordable prices. The ban is expected to impact major palm oil consumers like India, China, and the European Union. In 2021, Indonesia produced 51.3 million tons of crude palm oil, and its exports, despite a slight increase, remained around 34.2 million tons. The country's export destinations include the Netherlands, China, Bangladesh, and Malaysia. The president has emphasized that he will continue to monitor and evaluate the policy to ensure its effectiveness.

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

Original content

Jakarta, CNBC Indonesia - President Joko Widodo (Jokowi) has banned the export of crude palm oil and cooking oil. CPO is the raw material for cooking oil. The ban will take effect on Thursday 28 April 2022 until a deadline to be determined later. Then which countries depend on the supply of Indonesian CPO exports? The Council of World Palm Oil Producers or the Council of Palm Oil Producing Countries (CPOPC), which consists of Indonesia and Malaysia, noted that the main consuming countries for world palm oil are India and China. Where, in 2020/2021, CPOPC projects India to import 8.5 million tons of palm oil and is predicted to increase to 8.6 million tons in the 2021/2022 period. China followed with an estimated import of 6.8 million tons in 2020/2021 and will jump to 7.2 million tons in 2021/2022. Then 27 countries in the European Union are predicted to need 6.2 million tons in 2020/2021 and will increase to 6.9 million tons in 2021/2022. With an estimated total supply to other ...

Source: Cnbcindonesia