In April 2022, the world’s biggest palm oil producer, Indonesia started implementing a full ban on the commodity’s exports risking upsetting the vegetable oils market.
At the time of the implementation of the ban on April 28, vegetable oil prices were already at their highest.
The reason for the ban was that cooking oil in the archipelago nation was in short supply and prices were going up. In several cities, people were waiting in line for hours at distribution centres to buy cooking oil at subsidised prices.
Due to this, Southeast Asia's most populous nation had its authorities w...