Indonesia announces ban on palm oil exports The country’s president Joko Widodo made the announcement. Indonesia’s announcement comes amid fears of rising global commodity prices, especially food prices, over the Ukraine war. Qatar-based Al Jazeera reported on Saturday (April 23rd) in a report.
The Indonesian president said the move was aimed at ensuring an adequate and affordable supply of cooking oil at home.
According to Al Jazeera, Indonesia is the largest producer of palm oil in the world. This oil is considered to be the most used vegetable oil in the world. It is used to make a variety of ingredients, from ice cream to shampoo.
The story of palm oil began in 1848 in West Africa. Later it spread to other countries. Currently, most palm oil is produced in Indonesia and Malaysia.