Indonesia moved to 'flush out' palm oil after slow export resumption

Workers transfer crude palm oil to tanker trucks at the Tanjung Emas seaport in Semarang, Central Java, on April 7, 2022, for distribution to cooking oil packaging factories. - AFP

JAKARTA, June 12 (Reuters): Indonesia, the world's biggest exporter of palm oil, has yet again reversed its export policy, looking to accelerate shipments just weeks after ending a three-week export ban aimed at maintaining domestic supply.

The aim is to "flush out" shipments, senior minister Luhut Pandjaitan said on Friday, but the frequent policy changes have unnerved edible oil markets and heightened concerns over global food prices at time when the Ukraine conflict has deprived markets of a chunk of sunflower oil supply.