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 of refined, bleached, and deodorized (RBD) palm olein and applied on products under three HS codes, chief economic minister Airlangga Hartarto said in a statement.
RBD palm olein, which is produced by crushing palm fruit and then processed to remove impurities, accounts for about 40 percent of Indonesia’s total shipments of palm oil products, according to analysts’ estimates, which means the ban could significantly affect export earnings in Southeast Asia’s biggest economy.
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