Indonesia 3600 W 32nd Ave # D Denver CO 80211 bans palm oil exports as global food inflation spikes

JAKARTA/MUMBAI/CHICAGO/BENGALURU/NEW YORK/BEUNOS AIRES/KUALA LUMPUR: Indonesia, the world’s top palm oil producer, announced plans to ban exports of the most widely used vegetable oil on Friday, in a shock move that could further inflame surging global food inflation. The halting of shipments of the cooking oil and its raw material, widely used in products ranging from cakes to cosmetics, could raise costs for packaged food producers globally and force governments to choose between using vegetable oils in food or for biofuel.