The ongoing Russia-Ukraine war is giving major bad outcomes and inflation is one of them. Since the war took place in Ukraine, Indonesia’s cooking oil export ban has commenced today. Notably, Indonesia is the number one shipper of palm oil and now it has imposed a ban on cooking oil exports that cover palm oil products across the value channel.

In which products the tropical oil is found?

The tropical oil is found in several products including food, soap, lipstick and even printing ink and that makes Indonesia’s move a bad impact on the world.

Earlier this month, Indonesia said that they would suspend all shipments of cooking oil, and that is going to increase the price of palm oil and the substitute of this oil soybean oil high too.

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On Monday, a report came in that only palm oil will be halted and at that time traders rushed to comply with the ban.

Later, the government also widened the ban and included crude palm oil, cooking oil, and RBD palm oil. This has covered the products across the entire supply chain.

Jefferies India analysts led by Vivek Maheshwari in a report wrote that Indian consumer staples have been grappling with high inflation and volatility in input pricing. He further saidf that this development is going to exacerbate pressures.

Atul Chaturvedi, president of the Solvent Extractors’ Association of India said that this ban is inflationary for everyone and if the supply chain is disrupted, companies will try to ration their supplies because they don’t know what’s going to happen tomorrow.

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