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Commodities

Indonesia slaps ban on palm oil exports

Jokowi announces restriction after recent arrests and amid continuing high prices

A worker handles palm oil fruits at a palm oil plantation. Palm oil prices skyrocketed after Russia's invasion of Ukraine.    © Antara Foto/Reuters

JAKARTA -- Indonesia, the world's largest producer of palm oil, on Friday announced an export ban of the commodity amid a continuing cooking oil crisis in the country.

Indonesian President Joko "Jokowi" Widodo said the ban on shipments of "raw materials for cooking oil and cooking oil" will take effect next Thursday for an indefinite period.

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