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Associated Press

The Indonesian Navy has seized a tanker that was carrying palm oil out of the country in violation of an export ban, a spokesman said Saturday.
Indonesia, the world’s largest producer of palm oil, prohibited its export last week to rein in skyrocketing domestic prices and shortages.
An Indonesian warship intercepted the Singapore-flagged MV Mathu Bhum on Wednesday as it headed for Malaysia, Navy spokesman Agung Prasetiawan said in a press release.
“The ship was carrying … 34 containers containing refined, bleached, deodorised (RBD) palm olein. This is the type of material that is temporarily prohibited for exports,” he added.
Why did Indonesia suspend all exports of palm oil? One word: voters
Indonesia produces about 60 per cent of the world’s palm oil, which is used in a range of products such as cosmetics and chocolate spreads. A third of its output is consumed domestically.
Vegetable oils are among the staple food items that have seen prices hit record highs in recent weeks following Russia’s invasion of agricultural powerhouse Ukraine, according to the United Nations Food and Agriculture Organisation.
Producers in Indonesia have been reluctant to sell at home recently because exporting is more profitable currently because of high international prices.

But authorities in the archipelago stepped in to try and control prices, fearing public anger as consumers in several cities were forced to queue for hours at distribution centres to buy cooking oil at subsidised rates.
The Indonesian export ban sent prices of palm, soybean, European rapeseed and canola oils to historic highs.
It plans to resume exports when the local bulk price of cooking oil falls to 14,000 rupiah (97 cents), having soared in recent weeks to 26,000 rupiah.
The price had dropped to 17,200 rupiah by Friday.


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Indonesia seizes tanker over palm oil export ban violation

Palm oil is loaded into trucks from a tanker docked in Jakarta, Indonesia. Photo: Bloomberg

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Workers load palm oil fresh fruit bunches to be transported from the collector site to factories in Riau province, Indonesia. Photo: Reuters

A Indonesian worker unloads hundreds of drums full of palm oil waste before exporting the oil waste to Pakistan at a port in Jakarta, Indonesia. Photo: EPA

Palm oil loaded into a truck from a tanker docked at Tanjung Priok Port in Jakarta, Indonesia. Indonesia made a shock announcement last week banning palm oil exports. Photo: Bloomberg

A vendor sells vegetables at his shop in a market in Karachi, Pakistan. The inflation in Pakistan hits 12.3 per cent, its highest, with strong increases in food and energy, the two most sensitive items for most consumers. Photo: EPA-EFE

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Workers load palm oil fresh fruit bunches to be transported from factories in Pekanbaru, Riau province, Indonesia. Photo: Reuters

A worker loads fresh palm fruit bunches to be transported from the collector site to factories. Photo: Reuters

A worker loads palm oil fresh fruit bunches to be transported from the collector site to CPO factories in Pekanbaru, Riau province in Indonesia on Wednesday. Photo: Reuters

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Bunches of harvested palm oil fruit are loaded onto a truck in Indonesia’s Borneo. File photo: Bloomberg

A woman shops for cooking oil made from oil palms at a supermarket in Jakarta. Photo: Reuters

Workers transfer harvested palm fruits to a transport truck in Pekanbaru, Indonesia. Photo: AFP 

Indonesia’s Jokowi to ban palm oil exports in effort to curb domestic prices

A vendor with packs of cooking oil at a market in Jakarta, Indonesia. Photo: AP 

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A warship intercepted the Singapore-flagged MV Mathu Bhum as it headed for Malaysia carrying material that is temporarily prohibited for export, Navy said
Indonesia produces about 60 per cent of the world’s palm oil, used in products from cosmetics to chocolate; a third of its output is consumed domestically



An Indonesian warship intercepted the Singapore-flagged MV Mathu Bhum as it headed for Malaysia carrying material that is temporarily prohibited for export, Navy said.


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