Indonesia Bans Crude Palm Oil Exports; These Countries Will Feel the Impact

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Dzulfiqar Fathur Rahman 26/04/2022 14:20 WIB

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Most of Indonesia's palm oil raw material exports are destined for India, Bangladesh, China, Myanmar, and Pakistan, according to data from the Central Statistics Agency (BPS).

Indonesia's Palm Oil Cooking Oil Raw Material Export Volume: Top 10 Destination Countries (February 2022)

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Indonesia Bans Crude Palm Oil Exports; These Countries Will Feel the Impact

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Indonesia's Palm Oil Cooking Oil Raw Material Export Volume: Top 10 Destination Countries (February 2022)

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The Indonesian government's plan to ban palm oil raw material exports, scheduled to take effect on Thursday (April 28, 2022), will impact India, Bangladesh, and China, which are major markets for Indonesia.

The government plans to ban the export of palm oil raw materials with HS codes 15119036, 15119037, and 15119039, according to Kompas, citing a document from a limited meeting on April 24, 2022.

In February, the Central Statistics Agency (BPS) reported that Indonesia's exports of refined, bleached, and deodorized (RBD) palm olein to India accounted for 27.5%, making it the number one export market. India's market share surged from only 2.68% the previous year.

India and China are not only major markets for palm oil raw materials but also for crude palm oil (CPO) for Indonesian export-oriented companies.

BPS noted that Indonesia's overall RBD palm oil exports reached 469,349 tons in February, down 28.2% year-on-year.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."