Jakarta (Indonesia Window) – The Indonesian government has banned exports of crude palm oil (CPO) and its derivatives starting April 28, 2022, in order to reduce the price of cooking oil to 14,000 rupiahs (some 0.97 U.S. dollars) per liter.
CPO (crude palm oil) and its derivatives are CPO, refined palm oil (RPO), Refined, Bleached, Deodorized Palm Olein (RBD Palm Olein), Palm Oil Mill Effluent (POME), and used cooking oil.
All of these products are listed in the Trade Minister’s Regulation, and the export ban was enforced starting April 28 at 00.00 (midnight) local time in accordance with President Joko Widodo’s directives, said Coordinating Minister for Economic Affairs Airlangga Hartarto at a press conference here on Wednesday (Apr. 27).
The policy, according to him, was taken with the public interest in mind.
Thus, this decision ensures that all CPO products are dedicated to the availability of cooking oil in order to reach a price of 14,000 rupiahs per liter, especially in traditional markets, and to meet the needs of small and medium enterprises.
The implementation of this policy will be supervised by the Customs and Excise Office.
Reporting by Indonesia Window