Indonesia Banned Palm Oil Exports,
Leaving Indian Consumers worrying
Indonesia is the world's biggest palm oil producer and they just banned the export of palm oil due to internal political necessities.
Importers such as India, Bangladesh, and Pakistan heavily rely on the palm oil exported from Indonesia.
These countries will look to purchase palm oil from Malaysia which is the second-largest producer of palm oil.
But experts believe that the gap created by Indonesia may not be filled by the exports from Malaysia.
India is also the world's largest vegetable oil importer, with Indonesia typically supplying nearly half of India's total palm oil imports.
Global edible oil consumers will now have to pay top dollar for supplies after Indonesia's surprise palm oil export ban forced buyers to seek alternatives.