Indonesia Ends Palm Oil Export Ban
The Indonesian government implemented the ban on April 28 in an attempt to lower high domestic prices for the popular ingredient. Palm oil prices are up 36% compared to this same time last year, although the lifting of the ban “will bring relief” to the global market. Futures prices “should continue to see downward pressure leading up to November on higher seasonal production in both Indonesia and Malaysia, the No. 2 producer and exporter. Read more here.