Palm oil slumped on prospects that top producer Indonesia’s surprise ban of cooking oil exports will not be strict as feared.
Indonesia will only halt exports of bulk and packaged RBD palm olein, a higher value product that has been processed. Exports of crude palm oil and RBD palm oil will still be allowed, according to people familiar with the matter.
RBD olein accounts for 30% to 40% of Indonesia’s total palm oil exports.
Benchmark futures initially rallied after Indonesia said on Friday that a shipment halt on all cooking oil will start from Thursday and last until the government…
