Indonesia banned the export of palm oil on April 28, rattling global edible oil markets already struggling with sunflower oil supply shortages due to the war in Ukraine.
Indonesia will lift its ban on palm oil exports next week, President Joko Widodo said Thursday, relieving pressure on the global vegetable oil market after prices spiked because of the suspension and the war in Ukraine.
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.