Skip to main content

Indonesia bans palm-oil exports


When people are suffering from the Russian and Ukraine wars on one side and continuous increase in petrol prices, Indonesia announced bans on palm-oil exports. The decision will add fuel to fire and causes to increase in cooking-oil prices. Palm oil jumps almost 5% after top producer Indonesia said it would ban all exports of cooking oil, a move that threatens to worsen global food inflation. Indonesia took the drastic decision to check the soaring domestic prices that unrest the people in the country. Palm-oil ban decision would severely affect Food inflation.


Indonesia is the world’s largest exporter of palm oil whereas India and China are major importers of palm oil from Indonesia. Indonesia's exports of palm oil and its derivatives usually amount to $3 billion a month. Malaysia is the second-largest supplier with about 25% of the global supply share. India can likely import 45% to 50% of Indonesian palm oil. Pakistan and Bangladesh import more than 80% of palm oil from Indonesia. As per the reports, India imports 13M tonnes of oil, of which 8M or 60% is palm oil. Edible oil prices may rise globally by 15-20% as Indonesia bans palm oil exports.



This made some countries look towards Malaysia which is the second-largest palm-oil producer in the world. As per the analysts, no country can compensate for the Indonesian palm-oil gap. It seems that every nation goes to undergo. UK markets are seeking to impose restrictions on the sale of cooking oil. Supermarkets in the UK have been directed on how much cooking oil will be sold per person. The United States of America Department of Agriculture urged cooperation from Indonesia on palm oil rather than an imposed a ban.

Labels:

Comments

Post a Comment

Popular posts from this blog

Photo : Savitri during her last days

Even after 4 decades of her death, people are very much interested to watched her (Savitri) biopic. Mahanati turned to be stupendous success. On eve of remembering Savitri, here we posted Savitri photo. The photo seems her last days. The man stand behind Savitri is Gemini Ganeshan who married Savitri. It seems that she suffered bad days during her last days.
Post a Comment
Read more

Police Attacked Asaduddin Owaisi - Rarest Photo

Post a Comment
Read more

Asaduddin Owaisi make mockery at Muslims!

Asaduddin Owaisi who is president of All India Majlis-e-Ittehadul Muslimeen is playing crucial hidden role in TRS Government. MIM was friendly ally to Congress once in United Andhra Pradesh. 12% Minorities turns to be vote bank to Congress in every elections. MIM was openly supported Congress to counter BJP. But people are seeing very difficult situation in Telangana state. Congress is in opposition in Telangana and BJP comes to fourth position as per 2014 results. Though TRS was not in NDA, but KCR political movements seems to be close to BJP in every aspect. At the time of No-Confidence motion TRS voted for BJP government where as MIM voted against BJP. But both MIM and TRS were in good understanding in Telangana and diversified political stand at Central. During the time of Deputy Chairman for Rajya Sabha too TRS voted in favor of NDA nominee and MIM voted for Congress nominee. Now the question among many muslim voters why Owaisi brothers go along with TRS though know KCR main...
Post a Comment
Read more