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SAFETY4SEA

Indonesia to end palm oil export ban

by The Editorial Team
May 24, 2022
in Shipping
Indonesia palm oil ban

Credit: Shutterstock

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Indonesia will lift its month-long ban on palm oil exports next week, President Joko Widodo said on May 21st.

The ban was put in place in April as a temporary measure to stop local producers taking advantage of higher prices abroad and leaving domestic consumers short of supplies.

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The war in Ukraine and sanctions against Russia, combined with weather events in South America and Canada, have seen prices for all vegetable oils soar. Indonesia produces about 60% of the world’s palm oil.

The Indonesian authorities had enforced the export ban rigorously, with one container ship detained even though palm oil made up only a fraction of the vessel’s contents, had been loaded before the ban was put in place, and over which the operator of the vessel had no control.

RelatedNews

Korea donates $2M to IMO for its “Voyage Together” fund

Swedish Club published guide for the practical and theoretical aspects of bills of lading

Earlier, Britannia Club’s local local office in Singapore informed that a number of foreign flagged ships have been arrested after Indonesia due to the ban.

Tags: banIndonesia

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