JAKARTA: Indonesia’s Oil Palm Farmers Union said on Sunday it supported the government’s ban on palm oil exports, calling it a temporary measure that was needed to ensure supply and affordability of cooking oil in the domestic market.
The statement came after President Joko Widodo announced on Friday that the world’s top palm oil producer and exporter would stop overseas shipments of cooking oil and its raw material from next Thursday to bring down domestic prices.
The export ban has sent soybean oil prices soaring to a record high amid heightened concerns about already depleted global supplies of alternative vegetable…
