Indonesia bans palm oil exports, threatens to destabilize global markets

The ban on palm oil exports to Indonesia began today, leading to fears of global market volatility.

According to foreign media, Indonesia’s ban on palm oil exports has become effective from today. The ban also includes crude palm oil, RBD and used coking oil, which could destabilize the global market.

Jakarta accounts for one-third of the world’s palm oil exports and Indonesia, the world’s largest shareholder in the palm oil export market after Malaysia, will be affected by the ban.

Let me tell you here that today the use of palm oil is found everywhere in food, soaps, cosmetics, food products and even printing inks.

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