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Indonesia says it will lift the ban on cooking oil exports when domestic demand is met

On April 27, 2022, China News reported that Indonesian President Joko Widodo said at the presidential office in Jakarta on April 27 that he will lift the export ban on edible oil and raw materials of edible oil once the country's domestic demand for edible oil is met.  
 

 Joko widodo announced on April 22 that the country will ban the export of edible oil and its raw materials to ensure domestic supplies.  Indonesia, the world's largest palm oil producer, "can easily meet domestic demand for edible oil with existing production capacity," Joko said.  However, the country has experienced four consecutive months of shortages and skyrocketing prices for edible oil, a phenomenon Joko called "ironic."  
 

Joko said that as president, he "cannot allow this to happen," so the government decided to ban the export of edible oil and raw materials of edible oil.  The ban applies to all parts of Indonesia, including bonded areas.  Joko said that while the ban "will have a negative impact," meeting basic domestic needs was the government's top priority when making decisions.  Joko said he would lift the export ban once domestic demand was met.  Because he knows that "the country needs taxes, foreign exchange and trade surplus".  

 

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