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Indonesia's palm oil export ban has little impact on Singapore's local edible oil supply

 Last Update: 2022-08-11
 Source: Internet
 Author: User

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"Lianhe Zaobao" Chinese version reported on May 7: Indonesia 's palm oil export ban is unlikely to have a major impact on Singapore's overall supply of edible oil, but the price of edible oil is expected to come under greater upward pressur.

Singapore's Ministry of Trade and Industry made the above reply when responding to Lianhe Zaobao's inquiries about the local impact of Indonesia's palm oil ban on expor.
The authorities explained that while Indonesia is one of the source countries of Singapore's palm oil, Singapore also imports edible oil and palm oil from countries such as Malaysia and Chi.

Indonesia, the world's largest palm oil producer, banned palm oil exports from April 28 due to a domestic shortage of edible o.
According to earlier reports, the interviewed local edible oil importers revealed that 80 to 90% of local palm oil comes from Malays.
Because it can be transported by land, the cost is lower and the efficiency is high.

"Importers and retailers currently have sufficient stocks of edible oil in Singapore to meet the consumer demand in Singapo.
Importers can also increase their supply to mitigate the decline in Indonesian supply, " a spokesman for the Ministry of Trade and Industry sa.

The authorities said they were closely monitoring developments and would work with major importers and retailers to ensure adequate supplies of edible and palm oil in Singapo.

The conflict between Russia and Ukraine and Indonesia's ban on exporting palm oil have affected global raw material and food pric.
Recently, many hawkers and shops revealed that the price of edible oil imported from other countries such as Malaysia has almost doubl.

palm oil export edible oil price

"Importers and retailers currently have sufficient stocks of edible oil in Singapore to meet the consumer demand in Singapo.

Importers can also increase their supply to mitigate the decline in Indonesian supply, " a spokesman for the Ministry of Trade and Industry sa.

The authorities said they were closely monitoring developments and would work with major importers and retailers to ensure adequate supplies of edible and palm oil in Singapo.

The conflict between Russia and Ukraine and Indonesia's ban on exporting palm oil have affected global raw material and food pric.

Recently, many hawkers and shops revealed that the price of edible oil imported from other countries such as Malaysia has almost doubl.

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