Indonesia clarifies its palm oil export ban

Palm oil fresh fruit bunches are seen at the collector site before being transported to CPO factories in Pekanbaru, Riau province, Indonesia, on April 27, 2022. - Reuters

JAKARTA (AFP): Indonesia has clarified a ban on palm oil exports announced last week, saying it would only prohibit shipments used for cooking oil, just as traders prepare for the embargo to kick in on Thursday (April 28).

The world's top producer of the commodity -- which is used in a range of goods including chocolate spreads and cosmetics -- sent prices soaring on international markets with the surprise announcement, as officials look to protect domestic supplies of cooking oil.