Indonesia aims to issue first palm oil export permits since lifting of the ban

Indonesia aims to issue first palm oil export permits since lifting of the ban

Indonesia aims to issue first palm oil export permits since lifting of the ban

May 30 2022 09:51 PM



A worker lifts harvested palm fruits to a transport truck before being processing into crude palm oil (CPO) at a plantation in Pekanbaru, Indonesia.

Indonesia has received its first requests for palm oil export permits following the lifting of a ban a week ago, some of which could be granted on Monday, a senior official said, signalling a calibrated resumption of shipments amid protracted delays.

Though Indonesia, the world’s top palm oil producer, has officially allowed exports to restart after a three-week halt, companies are facing regulatory hurdles that are slowing the process of getting their shipments out.

“As of this morning there were five to six companies that had submitted a request and the system would immediately process them.

We hope the permits can be issued today,” Veri Anggriono, a senior trade ministry official said.

Indonesia is requiring firms to reserve a share of their palm oil exports for the local market under a Domestic Market Obligation (DMO) and to join a bulk cooking oil programme designed to maintain domestic supplies and keep runaway prices in check.

The government has targeted shipments of 1mn