Amid an ongoing global food price crisis, vegetable oils are registering record-breaking highs. The recent ban on palm oil exports by Indonesia, the world’s largest palm oil exporter, has sent shockwaves through agri-food markets. Let’s explore the implications of this unprecedented decision. The Vegetable Oil Crisis Price Surge: Vegetable oil prices have soared to almost 250% of standard levels due …

The Malaysian minister of commodities predicted on Monday, July 25th, that prices for crude palm oil would remain low for the majority of the third quarter of this year. His comments came shortly after a competing producer, Indonesia, eliminated its export levy. “This is inevitable in light of stiffer competition from Indonesia – the world’s largest palm oil producer – …

INDONESIA: The upcoming harvest season is expected to keep inventories full, therefore the Indonesian palm oil industry is pleading with authorities to reduce export restrictions and levies so that it can sell produce that otherwise risks going to waste. Prices have fallen by nearly half since late April to their lowest level in over a year as the world’s largest …

MALAYSIA: Malaysia’s palm oil stocks hit a seven-month high at the end of June, as exports were curtailed by Indonesian measures aimed at boosting its own shipments, according to statistics released by the industry regulator on Tuesday. According to the Malaysian Palm Oil Board, inventories jumped 8.76 percent from the previous month to 1.66 million tonnes, the highest since November …

Indonesia – Indonesian President Joko Widodo argued over a series of policy U-turns on palm oil exports when the cabinet was reorganized on Wednesday. The Minister of Trade was dismissed. Zulkifuri Hasan, the leader of the National Delegation Party (PAN) and  former Minister of Forestry, has been appointed as the  new Minister of Trade of the country. His predecessor, Muhammad …

Indonesia – Indonesia has shut down all palm oil and its subordinates products to drive cooking oil costs to beneath $1 at nearby business sectors. He shared that he needs to stress that for the public authority, individuals’ essential necessities hold the main thought. That is the most elevated need in each navigation. Indonesians have been battling to purchase cooking …

Indonesia’s food and refreshment industry, especially palm oil, has contributed essentially to the nation’s fares, notwithstanding base metal industry and substance item and compound industry. The food and refreshment industry contributed US$9.69 billion, the base metal industry at US$5.87 billion, and the substance item and compound industry adding up to US$4.18 billion. The food business’ fare esteem is overwhelmed by …

It’s only the second month of the year and there’s something urgent to deal with as Environmentalists have cautioned that Indonesia’s aggressive biodiesel scheme would raise the likelihood of deforestation as more tropical forests will be cleared to cultivate palm oil, encouraging lawmakers to enforce a long-term ban on new plantations. Indonesia which is the home to the third largest …

The Indonesian Palm Oil Association (Gapki) recently announced that Indonesia’s exports of crude palm oil and its derivatives increased three percent to 2.76 million tons in September this year from 2.68 million tons in August. Export volume growth was attributed to an increase in exports to countries such as China, Brazil, Malaysia, Russia, and Africa, Gapki CEO, Mukti Sardjonoo. While …

KUALA LUMPUR – The United States on Wednesday announced it will be banning imports of palm oil from Malaysian company FGV Holdings citing an investigation have uncovered indication that it is using forced labor in the production process. Executive assistant commissioner of CBP’s Office of Trade Brenda Smith said that they are issuing a Withhold Release Order on all palm …