The Indonesian government’s efforts to address domestic cooking oil shortages by banning palm oil exports has begun to backfire, with local farmers protesting the policy.
Hundreds of farmers protested in the capital city of Jakarta on Tuesday, demanding that the government revoke the palm oil exports ban, which has led to a drop in the price of palm fruits.
Farmers’ group APKASINDO said the price of palm fruit had plunged 70 percent below a price floor set by regional authorities since the export went into effect in April. They called on the government to protect independent farmers.
The group also noted that at least 25 percent of palm oil mills have stopped buying from independent farmers since the ban started, indicating storage tanks are filling up at mills….
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