Indonesia is due to resume exports of palm oil on Monday after a ban of more than three weeks, but industry traders and companies were awaiting details on accompanying rules to secure domestic supplies of the edible oil to control cooking oil prices.
The Southeast Asian country, the world's biggest palm oil producer, halted exports of palm oil from April 28 in an attempt to bring down soaring local prices of cooking oil, rattling global edible oil markets already struggling with sunflower oil supply shortages due to the war in Ukraine.
Indonesian President Joko Widodo announced the lifting of the ban on exports of crude palm oil and some derivative products last week, expressing confidence that bulk cooking oil prices were heading towards a target level of 14,000 rupiah ($0.9546) per liter, even if they were currently higher in some areas.