Indonesia has banned exports of its palm oil due to a severe shortage. Analysts think the curb on export shipments is likely to be short-lived and will be lifted soon. Indonesia has said the ban will not be applicable to crude palm oil, only refined, bleached, deodorised (RBD) palm olein.
India is the world’s largest importer of palm oil and is dependent on Indonesia and Malaysia. India imports over 13.5 million tonnes of edible oil every year, of which, around 63 per cent is palm oil. Nearly 45 per cent comes from Indonesia and the remaining from Malaysia. India imports roughly four million tonnes of palm oil from Indonesia annually.