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Indonesia recently lifted its ban on palm oil exports as it caused a nosedive in domestic cooking oil prices. Indonesian President Joko Widodo announced the ban's lifting in a May 19 video [...]
Indonesia will reimpose a domestic sales requirement on palm oil, the government said on Friday, a day after the world's biggest producer of the key edible oil reversed a ban on its export.
Prices of the commodity have hit all-time highs on exchanges in the US and Europe. But at Asia’s largest grain market in Khanna values went the other way.
Skyrocketing exports of the agricultural commodity may have led to scarcity and food price inflation, the Commerce and Industry Minister told Business Today TV.
Countries are increasingly imposing food export bans and its amping up prices worldwide. Experts say these prices won't die down any time soon.