Indonesia would lift the ban on palm oil exports starting from May 23, President Joko Widodo said on Thursday, after hundreds of farmers protested against the policy.
Joko said exports would resume starting from May 23, because cooking oil had become widely available at cheaper prices.
“Thank God, the supply of cooking oil has increased, more than enough nationally,” Joko said at a press conference announcing the reversal."
Exports of cooking oil and crude palm oil were suspended on April 28, as the government struggled to stabilize prices at home.
Earlier, on Tuesday, hundreds of small palm oil farmers rallied in several cities, demanding the government end the ban.
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They said companies had stopped buying palm oil from them, which rendered their crops worthless.
However, Farmers welcomed the new decision.
“I thank the president for ending the ban. Our economic wheels can now turn again,” said Manusetus Darto, the secretary-general of the Union of Palm Oil Farmers.
Meanwhile, global environmental groups have criticized the palm oil industry because of deforestation.
