Since November, authorities have unrolled a bewildering array of policy measures including subsidies, export permits and a palm oil levy as well as export bans.
"It's very important for countries to ensure available oils and fats are used for food and.temporarily stop or reduce their biodiesel mandates," said director general of the Malaysian Palm Oil Board (MPOB) Ahmad Parveez Ghulam Kadir.
Indonesia's ban on exports of palm oil, which is part of one's everyday life is expected to deal a massive blow to the world's top food and consumer products companies.
The move by the world's biggest palm oil producer to ban exports from Thursday will lift prices of all major edible oils including palm oil, soyoil, sunflower oil and rapeseed oil, industry watchers predict.