JakartaPost-Jan 20, 2022

Indonesia, the world’s largest exporter of palm oil, is set to temporarily restrict crude palm oil (CPO) exports starting late January as the country seeks to combat rising cooking oil prices by forcing producers to prioritize domestic markets. The Trade Ministry said on Tuesday that CPO exporters needed to show proof of selling CPO domestically each time they applied for export permits with the ministry over the next six months, starting Jan. 24. The ministry will withhold export approval documents until receiving such proof. All exporters are subject to this policy, including those that have never supplied domestic markets before and are not affiliated with cooking oil producers. “This is not an export ban. We want to ensure CPO availability domestically,” Trade Minister M. Lutfi told reporters during a virtual press conference on Tuesday. The announcement came after the country saw a hike in cooking oil prices for several consecutive months following a surge in international CPO prices amid rising demand and limited production. Read more at: https://www.thejakartapost.com/business/2022/01/19/indonesia-to-tighten-cpo-export-rules-temporarily.html.