Highlights

  • Indonesia banned export of palm oil due to shortage in the country
  • 50% of products the average urban Indian uses daily contain palm oil

Latest news

RBI focuses on expanding UPI for cross-border payments

RBI focuses on expanding UPI for cross-border payments

Fardeen Khan's cinematic return: eyeing Bollywood & South

Fardeen Khan's cinematic return: eyeing Bollywood & South

Maharashtra CM advocates lawful approach to Aurangzeb Tomb Issue

Maharashtra CM advocates lawful approach to Aurangzeb Tomb Issue

Controversy & Triumph: India's glory in Champions Trophy 2025

Controversy & Triumph: India's glory in Champions Trophy 2025

India imposes anti-dumping duty on Trichloroisocyanuric Acid imports

India imposes anti-dumping duty on Trichloroisocyanuric Acid imports

Rohit Sharma dispels ODI retirement rumors post champions trophy win

Rohit Sharma dispels ODI retirement rumors post champions trophy win

Modi's Mauritius Visit: New chapter in India-Mauritius relations

Modi's Mauritius Visit: New chapter in India-Mauritius relations

Shiv Sena's Rajpurohit detained for extortion allegations

Shiv Sena's Rajpurohit detained for extortion allegations

Explained: Why Indonesia ban and not Ukraine war is India's biggest problem

India imports about 8 million tonnes of palm oil annually

Explained: Why Indonesia ban and not Ukraine war is India's biggest problem

India is expecting a potential crisis as edible oil prices are set to skyrocket with Indonesia putting an export ban on palm oil. Along with high oil prices comes higher spending on daily food and other utility items. Editorji explains why Indonesia is now a bigger problem for your pockets than the Ukraine war:

How big is Indonesia in the palm oil market?

The nation is the top producer of the commodity with a large monopoly in the export market. Indonesia and Malaysia make up over 85% of the total global supply. The world annually consumes around 240 million tonnes of edible oils, of which almost 80 million tonnes is palm oil. Of this almost 50 million tonnes comes from Indonesia.

What is palm oil really used for?

50% of products the average urban Indian uses daily contain palm oil. Palm oil is used as the most common cooking medium (Vanaspati) and its derivatives are used in various forms from chips and instant noodles to toothpaste, lotions, lipsticks, and other personal care and cosmetics.

How is India impacted?

India is the world's largest palm oil importer and consumer, heavily dependent on Indonesia to meet about 60 percent of its annual edible oil imports which is close to 8 million tonnes. Palm oil accounts for nearly 40 percent of India’s overall edible oil consumption basket. In the last 12 months, palm oil prices have gone up by 50 percent; and nearly tripled over the last two years.

ADVERTISEMENT

Up Next

Explained: Why Indonesia ban and not Ukraine war is India's biggest problem

Explained: Why Indonesia ban and not Ukraine war is India's biggest problem

Global stock market indices: How the world markets performed today - 07 March 2025

Global stock market indices: How the world markets performed today - 07 March 2025

Indian stock market sector-wise performance today - March 10, 2025

Indian stock market sector-wise performance today - March 10, 2025

Top 5 Nifty 50 gainers today – March 10, 2025: Biggest stock moves

Top 5 Nifty 50 gainers today – March 10, 2025: Biggest stock moves

NSE Nifty 50: Top 5 stock losers of March 10, 2025

NSE Nifty 50: Top 5 stock losers of March 10, 2025

Indian stock market sector-wise performance today - March 07, 2025

Indian stock market sector-wise performance today - March 07, 2025

ADVERTISEMENT

editorji-whatsApp

More videos

NSE Nifty 50: Top 5 stock losers of March 07, 2025

NSE Nifty 50: Top 5 stock losers of March 07, 2025

Top 5 Nifty 50 gainers today – March 07, 2025: Biggest stock moves

Top 5 Nifty 50 gainers today – March 07, 2025: Biggest stock moves

Global stock market indices: How the world markets performed today - 06 March 2025

Global stock market indices: How the world markets performed today - 06 March 2025

Indian stock market sector-wise performance today - March 06, 2025

Indian stock market sector-wise performance today - March 06, 2025

Top 5 Nifty 50 gainers today – March 06, 2025: Biggest stock moves

Top 5 Nifty 50 gainers today – March 06, 2025: Biggest stock moves

NSE Nifty 50: Top 5 stock losers of March 06, 2025

NSE Nifty 50: Top 5 stock losers of March 06, 2025

Global stock market indices: How the world markets performed today - 05 March 2025

Global stock market indices: How the world markets performed today - 05 March 2025

Indian stock market sector-wise performance today - March 05, 2025

Indian stock market sector-wise performance today - March 05, 2025

Top 5 Nifty 50 gainers today – March 05, 2025: Biggest stock moves

Top 5 Nifty 50 gainers today – March 05, 2025: Biggest stock moves

NSE Nifty 50: Top 5 stock losers of March 05, 2025

NSE Nifty 50: Top 5 stock losers of March 05, 2025

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.