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Indonesia stuns markets as it widens ban to include CPO, refined palm oil
Reuters ^ | April 27, 2022 | Bernadette Christina and Fransiska Nangoy

Posted on 04/27/2022 1:56:56 PM PDT by Brellium

JAKARTA, April 27 (Reuters) - Indonesia widened the scope of its export ban on raw materials for cooking oil to include crude and refined palm oil, its chief economic minister said on Wednesday, leaving markets in shock over the latest policy reversal.

(Excerpt) Read more at reuters.com ...


TOPICS: Agriculture; Business/Economy; Food; Health/Medicine
KEYWORDS:

1 posted on 04/27/2022 1:56:56 PM PDT by Brellium
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To: Brellium

Cardiologists all over the world are crying right now and making plans to get into another specialty.


2 posted on 04/27/2022 1:59:08 PM PDT by MercyFlush (The Soviet Empire is right now doing a dead cat bounce.)
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To: Brellium

Olive oil producers are happy I guess.


3 posted on 04/27/2022 2:01:31 PM PDT by Fai Mao
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To: Brellium

Cooking oils in short supply world over

Ukraine is major supplier of sunflowers for sunflower oil

Others like canola, soybean short supply

UK stores rationing people to 2 bottles each


4 posted on 04/27/2022 2:01:49 PM PDT by njslim
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To: Brellium

Blessing in disguise.


5 posted on 04/27/2022 2:02:39 PM PDT by cicero2k
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To: njslim

fortunately I stick with olive oil, regular vegetable oils make me violently nauseous.


6 posted on 04/27/2022 2:05:46 PM PDT by Brellium (Why Z? Because someone stole the other half of the swastika.)
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To: cicero2k

Maybe not

Stock up on soap, shampoo, detergent, lipstick, ice cream and most important CHOCOLATE!


7 posted on 04/27/2022 2:13:13 PM PDT by lizma2
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To: Brellium

Smart. There’s a reason your body rejects them.

Be happy you got such a warning (likewise with me, though different symptoms).

Palm oil is toxic, but none of the manufactured oils rank well in my book. Exceptions: Coconut oil is tolerable (all things in moderation) for cooking, as are peanut, rice bran & avocado oils.


8 posted on 04/27/2022 2:13:26 PM PDT by logi_cal869 (-cynicus the "concern troll" a/o 10/03/2018 /!i!! &@$%&*(@ -)
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To: logi_cal869
#8: "Coconut oil is tolerable (all things in moderation) for cooking, as are peanut, rice bran & avocado oils."

And of course everyone's guilty pleasure lard.



9 posted on 04/27/2022 2:39:11 PM PDT by Governor Dinwiddie (LORD, grant thy people grace to withstand the temptations of the world, the flesh, and the devil.)
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To: njslim
From Reuters (Original news source) :

" Palm oil futures on the Malaysia exchange surged by 9.8% on Wednesday, .. the world's biggest palm oil producer, could not get their products onboard vessels in time before the ban starts."

"US soyoil futures jumped more than 4% to a record high after Indonesia extended ban to include CPO." It was unclear if palm oil companies had been informed of the latest policy change."

Just an Indonesian government decisive action with no thought for the industry.
The governments intent is to keep palm oil cheap enough for the local population, given the rise, world-wide, of all other cooking oils.

10 posted on 04/27/2022 4:24:36 PM PDT by Tilted Irish Kilt
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To: Governor Dinwiddie

Yes, neglected that.

But Leaf lard, not that hydrogenated crap sold in supermarkets


11 posted on 04/27/2022 6:50:23 PM PDT by logi_cal869 (-cynicus the "concern troll" a/o 10/03/2018 /!i!! &@$%&*(@ -)
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