Frequent policy U-turns threaten Indonesia's economic ambitions

The palm oil export ban is meant to ensure there is ample supply of cooking oil priced at 14,000 rupiah (S$1.34) a litre. - AFP

JAKARTA, April 29 (Bloomberg): Even by the standards of a country known for frequent regulatory surprises, Indonesian President Joko Widodo's policy gymnastics on palm oil have been extraordinary.

The world's biggest producer of palm oil announced a sweeping ban on cooking oil shipments late last Friday (April 22) to curb domestic shortages.