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JAKARTA (Reuters) - Indonesia is prepared to expand its ban on refined palm olein exports if it faces domestic shortages of derivatives used in cooking oil production, according to details presented at a meeting between government and government officials. industry.The world's biggest palm oil exporter plans to halt shipments of refined, bleached and deodorized (RBD) palm olein, but will allow exports of crude palm oil or other derivatives from Thursday, the senior official told Reuters of the Musdhalifah Machmud government, who verified the details presented.
RBD palm olein accounts for around 40% of Indonesia's total palm oil product shipments, according to analyst estimates, meaning the ban could significantly affect export earnings in Southeast Asia's largest economy.Indonesia typically exports around $2.5 billion to $3 billion worth of palm oil products per month.
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Indonesian President Joko Widodo announced a ban on exports of cooking oil and its raw material last Friday to help control rising domestic prices, but did not provide details.Markets had previously thought that the ban would cover a wider range of palm oil products, causing the rupiah and shares of Indonesian palm oil companies to fall on Monday.
(Reporting by Bernadette Christina Munthe, additional reporting by Stefanno Sulaiman and Stanley Widianto in Jakarta and Tom Westbrook in Singapore)
Per: Notícias Agrícolas
