THE nation allowed the resumption of palm oil exports from Monday after a three-week ban, but industry players said shipments were unlikely to restart until details emerge on how much of the edible oil must be held back for domestic use.
Indonesia, the source of 60% of the world’s palm oil, halted exports of crude palm oil and some derivative products on April 28, in an attempt to bring down soaring local prices of cooking oil. The ban rattled global edible oil markets at a time of supply shortages from the war in Ukraine.
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