Indonesia lifts ban on export of edible oil on improved supply; prices likely to reduce

Indonesia said it will lift a monthlong ban on palm oil export, citing improvements in the supply and domestic price of bulk cooking oil. President Joko Widodo said exports will resume from Monday next. Indonesia and Malaysia are the world’s largest exporters of palm oil, which plays an important role in their economies. They account […]

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India raises concern to WTO  over trade barriers imposed by Indonesia

India has raised concerns at the World Trade Organization (WTO) over a host of trade barriers built in by Indonesia, including export restrictions on palm oil and import curbs on bovine meat and automotive (auto) parts, holding that such measures have adversely impacted India. “India remains concerned with the Indonesian import substitution programme and export policies. Indonesia is maintaining a number […]

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India’s wheat exports in fiscal 2022-23 likely to exceed target of 10 million tonnes: Minister Piyush Goyal

Commerce and industry minister Piyush Goyal exuded confidence that India’s wheat exports in the current fiscal will breach the initial target of 10 million tonne and may even touch 15 million tonnes. The country’s wheat exports have witnessed a quantum jump in recent years — from just 217,000 tonnes in FY20 to two million tonnes […]

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Indonesian packaged-food leaders’ pricing power buffers commodity shocks

PT Indofood CBP Sukses Makmur Tbk’s and PT Mayora Indah Tbk’s leadership in the Indonesian packaged-food market will cushion the effect of a jump in commodity prices, Fitch Ratings says. “We expect their pricing power and leverage headroom to help absorb the short-term rapid cost increase through gradual price adjustments. However, a prolonged escalation in […]

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