Indonesians hope domestic needs will not be sidelined as palm oil exports restart

Record ID: 1673544

  • Title: Indonesians hope domestic needs will not be sidelined as palm oil exports restart
  • Date: 20th May 2022
  • Summary: JAKARTA, INDONESIA (MAY 20, 2022) (REUTERS) VARIOUS OF JERRY CANS BEING FILLED WITH OIL BY OIL STATION WORKERS VARIOUS OF STATION WORKER FILLING BOTTLE WITH OIL (SOUNDBITE) (Bahasa Indonesia) 41-YEAR-OLD OIL DISTRIBUTION STATION OWNER, HAERUL, SAYING: "We hope that exports could give our country income, but we shouldn't forget to prioritise domestic needs. Don't let cookin
  • Embargoed: 3rd June 2022 07:39
  • Keywords: Indonesia cooking oil palm oil reaction
  • Location: JAKARTA, KAMPAR, INDONESIA
  • City: JAKARTA, KAMPAR, INDONESIA
  • Country: Indonesia
  • Topics: Asia / Pacific,Commodities Markets,Economic Events
  • Reuters ID: LVA001934120052022RP1
  • Aspect Ratio: 16:9
  • Story Text:Indonesia’s locals said on Friday (May 20) they hoped that domestic oil needs will not be sidelined after the president announced a lifting of the country’s three-week-old palm oil export ban.
    The world's top palm oil exporter on April 28 halted shipments of crude palm oil and some derivative products to try to tame soaring prices of domestic cooking oil, surprising markets that were already rattled by earlier government intervention measures.
    President Joko Widodo on Thursday (Mary 19) said the supply of bulk cooking oil had now reached a level greater than needed, although bulk prices had not yet receded to the targeted 14,000 rupiah per litre.
    “I hope that while exports are continued, domestic stock supplies would still be enough, so that prices could be stable, or even drop,” said an Indonesian oil distribution station owner.
    (Production: Zahra Matarani, Tommy Ardiansyah)
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2022. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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