The Crisis Of Cooking Oil in Indonesia
Sep 06, 2022
The crisis of cooking oil in Indonesia
For months, millions of consumers and small business owners in the world's fourth most populous country have been upset by the soaring price of cooking oil.
As a war between two major grain and sunflower producers unsettled global markets, many producers scrambled to move their commodities abroad to profit from the soaring prices.
Indonesia produces around 60% of the global palm oil supply, a third of which is consumed domestically. India, China, the European Union (EU) and Pakistan are its main export customers.
The tightening of domestic edible oil forced the Indonesian government to implement a now lifted export ban last month, thereby reducing prices and supporting domestic supplies.
