and Indonesia's ban on palm oil exports beginning the 28th of April has rattled Indian markets. Indonesia meets about 45% of India's annual palm oil demand and many reports it of the ban is being put in place to cheque soaring domestic prices of the commodity. In a shock move, Indonesia, the world's top palm oil producer, declares plans to ban exports of the widely used vegetable oil from cooking. Two cosmetics. Palm oil is part of everyday life. India's edible oil prices, already high, are set to strike as Indonesia's ban on exports comes into effect from April 28th. Experts believe India's options with regard to crude palm oil are limited for something used in everything from shampoos to spreads by the farmer and automobile industry as well. And perhaps paying a steep rate to Malaysia may be the only other option for India's significant palm oil needs at a time when global oil prices have surged this year due to Russia's invasion of Ukraine and supermarkets across UK have begun placing limits on how much cooking oil customers can buy due to the supply constraints. Indonesia's latest move on banning palm oil exports to protect price points at home is likely to hit India significantly. Sakshi Bajaj for NDTV
