HUL, Britannia, Marico drop up to 6% as Indonesia bans palm oil exports

Palm oil is used in products like cooking oil, processed foods, cosmetics and biofuels.

Shares of fast moving consumer goods (FMCG) companies dropped up to 6 per cent on the BSE in Monday’s intra-day trade after Indonesia, the world's top palm oil producer, announced export ban on palm oil from April 28, 2022. Palm oil is used in products like cooking oils, processed foods, cosmetics and biofuels.

Frontline stocks like Hindustan Unilever (HUL), Britannia Industries, Godrej Consumer Products, and Marico were down between 4 per cent and 6 per cent on the BSE. At 09:30 am; the S&P BSE FMCG index was down 1.7 per cent, as compared to 1 per cent decline