Food protectionism ramps up as Indonesia bans palm exports
RBD Palm Oil
Indonesia
Published Apr 29, 2022
Tridge summary
(April 28): Indonesia’s palm oil export ban kicked off on Thursday (April 28) in one of the most drastic cases of food protectionism since the war erupted in Ukraine. The top shipper imposed a sweeping ban on cooking oil exports, covering palm oil products across the value chain. It’s hard to overstate the importance of the tropical oil as it’s found everywhere today — in food, soap, lipstick and even printing ink — which makes Indonesia’s move important for the world.
Original content
(April 28): Indonesia’s palm oil export ban kicked off on Thursday (April 28) in one of the most drastic cases of food protectionism since the war erupted in Ukraine. The top shipper imposed a sweeping ban on cooking oil exports, covering palm oil products across the value chain. It’s hard to overstate the importance of the tropical oil as it’s found everywhere today — in food, soap, lipstick and even printing ink — which makes Indonesia’s move important for the world. The move adds to the impact of Russia’s invasion of Ukraine, which plunged the global edible oil market into disarray. With food costs surging to all-time highs, governments are taking steps to secure their own supplies. The United Nations has urged leaders to keep trade open, warning that protectionism will drive up prices and lead to empty shelves in countries dependent on imports. In a move illustrating the country’s determination to enforce the ban, the navy said it had detained two tankers carrying palm oil ...
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