Govt to Lift Palm Oil Export Ban Soon

By Editorial Team 19/05/2022
palm oil
Summary

The government is currently evaluating the export ban on crude palm oil (CPO) and its derivative products. Head of Fiscal Analysis at the Center for Macroeconomic Policy at the Fiscal Policy Agency of the Finance Ministry Abdurrahman said that the government sees that cooking oil prices are lower. "The government evaluates by looking at declining cooking oil prices," Abdurrahman told CNBC Indonesia Tuesday.

On a separate occasion, Trade Minister Muhammad Lutfi said that the government currently regulates the distribution of bulk cooking oil at low prices. "What we emphasize is availability and affordability. Hopefully, it will be stable at the first opportunity, and we will talk about easing exports," he said.

The Trade Ministry will distribute bulk cooking oil to 1,200 locations. "Hopefully next week [we distribute] to 5,000 and 10,000 points at the first opportunity," he said.

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