Indonesian Ambassador to Pakistan, Adam Mulawarman Tugio, stated on Sunday that Indonesia has withdrawn the global restriction on palm oil exports last week, adding that the availability of palm oil in Pakistan would now be improved.
Indonesia is Pakistan’s top supplier of palm oil, which will now be available in local shops, according to Ambassador Adam Mulawarman Tugio. In this regard, the Indonesian government is focusing its efforts on increasing palm oil supplies to Pakistani markets.
People and businessmen in Pakistan have suffered challenges as a result of the ban on palm oil exports, he acknowledged. According to the ambassador, the Indonesian embassy in Islamabad would completely engage with the local market.
Furthermore, the ambassador stated that the decision on palm oil exports was reached after examining global trade dynamics and the global supply chain, which would help price stability in Indonesia’s local market. According to the ambassador, as the holy month of Ramzan approaches, edible oil consumption in Indonesia rises, making it harder to provide edible oil to the 270 million-strong Indonesian market with global exports. In response to a question, he stated that global palm oil consumption is currently 70 MT, with 33 MT produced in Indonesia.