September 26, 2022

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The world's largest palm oil exporter has stopped selling

The world’s largest palm oil exporter has stopped selling

In a video statement, the President of Indonesia Goku Widodo He said that this step aims to reduce domestic oil prices and ensure the availability of food in the country in the face of inflation in the prices of global products.

“I will monitor and evaluate the implementation of this policy so that the availability of cooking oil in the local market is large and at reasonable prices,” Widodo explained.

The move comes in response to recent protests in Indonesia over rising cooking oil prices, which have soared retail prices by more than 40% this year. – Reuters writes

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