Indonesian authorities announced a decision to ban the export of palm oil used in the manufacture of confectionery and dairy products, as well as cosmetics.
According to the decision of the authorities, the world’s largest producer and exporter of palm oil will not supply it to foreign markets from April 28 until further notice. Indonesia is the world’s largest producer and exporter of this oil.
The reason for the introduction of restrictions was the shortage of the product in the domestic market of the country.
Previously in G7 urged countries to refrain from closing their food and agricultural markets to prevent a rise in global food prices. The G7 pointed out that rising prices and volatility in the markets jeopardize food security in the world and threaten a food crisis.
