MAKASSAR, Indonesia—Indonesian rescue teams were looking for 26 people missing on Saturday after a boat with 43 people on board capsized on off Sulawesi island, the search and rescue agency said. The motorboat that had left Paotere port in Makassar, capital of South Sulawesi Province, on Thursday midnight was reported missing the next day when…
Indonesia Policy Uncertainty Hampers Resumption of Palm Oil Exports
JAKARTA—Indonesia allowed a resumption of palm oil exports from Monday after a three-week ban, but shipments were not expected to get underway until details emerge on new rules aimed at securing domestic supplies of the edible oil. The Southeast Asian country, the world’s biggest palm oil producer, halted exports of palm oil from April 28…
Indonesia’s Palm Oil Export Ban Leads to Farmer Protests Amid Surging Prices
May 18, 2022
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The Indonesian government’s efforts to address domestic cooking oil shortages by banning palm oil exports has begun to backfire, with local farmers protesting the policy. Hundreds of farmers protested in the capital city of Jakarta on Tuesday, demanding that the government revoke the palm oil exports ban, which has led to a drop in the…
Indonesia’s Economic Growth Holds Steady at 5 Percent in Q1
Indonesia’s economy grew by 5.01 percent from January to March 2022 compared to the same period a year earlier, matching the 5.02 percent growth rate seen in the fourth quarter of 2021, according to data released by the country’s statistics agency on May 9. Growth in the first quarter was mainly supported by a recovery…
Indonesians Violating Palm Oil Export Ban Will Face ‘Strict Sanctions:’ Trade Minister
Indonesia will impose “strict sanctions” against those who violate the country’s palm oil export ban to protect the domestic market, Trade Minister Muhammad Lutfi said Thursday. Indonesia has widened the scope of its export ban on raw materials for cooking oil to include crude and refined palm oil. This comes just a day after its…
Indonesia Industry Body Confident Palm Oil Export Ban Could End in May
JAKARTA—Indonesia should be able to tackle its cooking oil shortage in the next few weeks and lift an export ban on palm oil and its refined products in May, an industry body said on Thursday, a day after a last-minute policy U-turn sparked more alarm for markets. The world’s top palm oil producer expanded an…
Indonesia May Widen Palm Export Ban to Combat Shortages
JAKARTA–Indonesia will ban exports of RBD palm olein from midnight on April 28 until prices of bulk cooking oil drop to 14,000 rupiah per litre, a senior minister said on Tuesday, while a document showed it was prepared to widen the ban if there are shortages. The export ban will be imposed on all producers…
Threat Level Raised on Indonesia’s Anak Krakatau Volcano as Lava Flow Enters Sea
Indonesia’s Geological Agency on April 24 raised the alert level for the erupting Mount Anak Krakatau volcano to level 3, requiring a danger zone of up to 5 kilometers (3.1 miles) as volcanic activity intensified. According to the Center for Volcanology and Geological Hazard Mitigation (PVMBG), the volcanic mountain began spewing ash clouds towering 3,000 meters…
Indonesia to Seek China’s Help to Finance Blown Out Belt and Road High-Speed Rail Project
Indonesia will seek more financing from China to cover most of the $2 billion in cost overruns for the Jakarta-Bandung high-speed rail project, which is part of Beijing’s Belt and Road Initiative infrastructure scheme, local media reported, citing a project official. The 88 mile (142 kilometer) rail project connecting Jakarta and Bandung was projected to…
Soyoil Surges to Record High as Indonesia Bans Palm Oil Exports
April 23, 2022
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LONDON—Soybean oil prices soared to a record high on Friday as Indonesia’s decision to effectively ban exports of palm oil heightened concerns about already depleted global supplies of alternative vegetable oils. The loss of shipments from Ukraine, the world’s top supplier of sunflower oil, and drought in the world’s top soybean oil exporter Argentina had…
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