Indonesia to lift palm oil export ban, likely giving India 'big relief'

Indonesia's prohibition was one of the biggest acts of crop protectionism since Russia's invasion of Ukraine in February.

Indonesia, the world’s biggest supplier of palm oil, said on Thursday it will lift a ban on exports from Monday, likely helping India and other importers.

India annually imports around 13-13.5 million tonne of edible oils, of which around 8-8.5 million tonnes (around 63 per cent) is palm oil. Of this, 8-8.5 million tonnes of palm oil, 45-50 per cent comes from Indonesia and the rest from neighboring Malaysia.

The decision will go despite bulk cooking oil having not yet receded to the targeted 14,000 rupiahs per litre price, as the government considers the welfare of 17 million workers in