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Indonesia began imposing a complete ban on palm oil exports Thursday, as the world’s largest producer of the commodity risked destabilising a global vegetable oil market already hitting peak prices
Indonesia began imposing a complete ban on palm oil exports Thursday, as the world's largest producer of the commodity risked destabilising a global vegetable oil market already hitting peak prices.
Authorities in Southeast Asia's most populous country fear the scarcity and rising costs could provoke social tensions and have moved to secure supplies of the product, which is used in a range of goods such as chocolate spreads and cosmetics.