Archived News

27/04/2022 (Free Malaysia Today), Jakarta - Indonesia widened the scope of its export ban on raw materials for cooking oil to include crude and refined palm oil, among other products, its chief economic minister said today, leaving markets in shock over the latest policy reversal.

26/04/2022 (NPR), Istanbul - For months, Istanbul restaurant Tarihi Balikca tried to absorb the surging cost of the sunflower oil its cooks use to fry fish, squid and mussels.

27/04/2022 (Jakarta Globe), Jakarta - The government has decided to ban only the export of refined, bleached, deodorized, or RBD, palm olein, which is the raw material for cooking oil, starting on Thursday until the domestic cooking oil price fall below $1 per litter, Coordinating Minister for Economic Affairs Airlangga Hartarto said late on Tuesday.

THE notoriety of developed economies against palm oil — the most produced, consumed and traded edible oil — all in favour of protecting the soybean trade (the second most-produced edible oil) is well-known.

MINISTER of Plantation Industries and Commodities (MPIC) Datuk Zuraida Kamaruddin Zuraida (picture) has proposed for Malaysia and Indonesia to proactively pursue their legal recourse filed with the World Trade Organisation (WTO) against the EU’s restrictions on palm oil biodiesel.

BENGALURU (April 26): The Indonesian rupiah rebounded on Tuesday from heavy losses in the previous session after the country said crude palm oil shipments were excluded from the planned export ban on the vegetable oil.

Indonesia's ban on palm oil exports has pushed prices to record highs and forced top importers to look for replacements.

JAKARTA: Indonesia President Joko Widodo's approval rating fell in April by nearly 12 percentage points from February's 71.7 per cent, an independent pollster said on Tuesday, as rising costs and soaring cooking oil prices dented his popularity.

SINGAPORE: Palm oil may bounce into a range of 6,326-6,392 ringgit a tonne, following its stabilization around a support at 6,104 ringgit.

(April 25): Palm oil slumped on prospects that top producer Indonesia’s surprise ban of cooking oil exports will not be strict as feared.

SINGAPORE, Apr 26 : Exports of Malaysian palm oil products for Apr. 1-25 fell 12.9 per cent to 897,683 tonnes from 1,030,943 tonnes shipped during Mar. 1-25, cargo surveyor Societe Generale de Surveillance said on Tuesday.

JAKARTA, April 25 (Reuters) - Indonesian government officials told palm oil companies on Monday that an export ban announced late last week would cover shipments of refined, bleached, deodorized (RBD) palm olein but not crude palm oil, two industry sources told Reuters.