The Bolivian Association of Oilseed and Wheat Producers (ANAPO) recently warned that the government's decision to suspend refined oil exports is jeopardizing 120,000 direct and indirect jobs, as well as the production of 6 million tons of soybeans, wheat, and sorghum crops.

Bolivia's Opinion newspaper reported on the 8th that the Bolivian government recently announced a moratorium on the export of refined oils to ensure domestic market supply and stabilize prices. The Ministry of Productive Development and Diversified Economy is responsible for trade and domestic logistics undersecretary Grover Lacoa (Grover Lacoa) emphasized that the suspension of refined oil exports will not affect the export of other products in the oilseed industry, such as soybean cake, soybean meal and crude oil. The proportion of refined oil represents only 6 percent of the total exports of oilseed products.

Lacoa added that at present, contracts for refined oil exports are practically fulfilled and the suspension will not have a significant impact on the oilseed sector or the national economy. This year, as of December 4, Bolivia has exported more than 116,700 tons of refined oil, less than last year's level, when exports totaled about 117,200 tons.

The government's suspension of refined oil exports is intended to ensure that the oilseed industry fulfills its commitments to supply the domestic market. Investigations showed that some companies had not delivered the agreed quantities, which prompted the Government to intervene.