Domestic edible oil prices, already high, are set for a surge as Indonesia, the world’s largest producer of palm oil, will ban exports from 28 April. Indonesia, too, has been battling high edible oil prices amid domestic shortages and soaring prices , China and India are among the biggest importers of palm oil from Indonesia, which accounts for more than half the world’s supply. Palm oil is used in products from cooking oils to processed foods, cosmetics and biofuels. It is the world’s most widely used vegetable oil and is used in the manufacture of many products including biscuits, margarine, laundry detergents and chocolate. Global cooking oil prices have surged this year following Russia’s invasion of Ukraine, which hit shipments of sunflower oil from the region. China and India are among the biggest importers of palm oil from Indonesia, which accounts for more than half the world’s supply. Palm oil is used in products from cooking oils to processed foods, cosmetics and biofuels. It is the world’s most widely used vegetable oil and is used in the manufacture of many products including biscuits, margarine, laundry detergents and chocolate. Global cooking oil prices have surged this year following Russia’s invasion of Ukraine, which hit shipments of sunflower oil from the region.
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