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Indonesia took a u turn and clarified to ban palm oil exports from 28th April’22.
Published on: Apr 28 2022, 10:45
Indonesia took a u turn and clarified to ban palm oil exports from 28th April’22. However, as per sources, ban is not likely to last for more than one month as Indonesia don't have sufficient infrastructure to store this much of surplus. Oilseed complex is already skyrocketing due to Russia Ukraine war, low production and surprising export ban by
Indonesia is pushing pressure on supply side and will push oilseed and edible oil prices even higher. India Usually Imports 5-5.5 Lakh tonnes of Palm oil monthly, India meets nearly 50 per cent of the total palm oil requirement in India annually from Indonesia. Oil seed complex
prices are expected to trade with firm bias tracking palm oil export ban by Indonesia.
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