After the export ban was imposed in April, supply reached 211 thousand tons, exceeding the monthly national.
President Joko Widodo (Jokowi) has officially lifted the ban on exports of crude palm oil (CPO) and its derivative products for cooking oil.
Jokowi said that since the export ban was implemented on April 28, 2022, the government has continued to push for steps to ensure domestic cooking oil supplies.
Based on direct measurements and data received by Jokowi in the field, the supply of cooking oil continues to grow.
"The national need is approximately 194,000 tons of bulk cooking oil per month, in March before the export ban was only 64.5 thousand tons," he said at a press conference, Thursday (19/5).
After the export ban was imposed in April, supply reached 211 thousand tons, exceeding the monthly national.
Jokowi said there was a decrease in the average national cooking oil price, in April the national price was around Rp 19,800.
Then after the export ban policy, the average national cooking oil price fell to Rp 17,500 to Rp 17,600.
"Therefore, based on the current supply and price of cooking oil and considering that there are 17 million workers in the palm oil industry, both farmers, workers and other supporting staff, I have decided to re-open cooking oil exports on Monday, May 23, 2022," he said. Jokowi.
Previously, the ban on the export of CPO and its derivatives was announced by the Coordinating Minister for Economic Affairs, Airlangga Hartarto. This policy applies to all raw materials for cooking oil, starting from CPO.
Meanwhile, Jokowi had emphasized that the ban on cooking oil exports was only temporary. The reason is, the country still needs foreign exchange for the trade balance surplus. (setpres)
