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View all search resultsDespite these tough policies that have rattled edible oil markets and cost hundreds of millions of dollars in lost revenue, the price of cooking oil, a staple for Indonesian families, has not come down, hitting the approval rating of President Joko "Jokowi" Widodo.
People find it difficult to forgive President Joko “Jokowi” Widodo for his failure to bring down the price despite his bold decision to ban exports of palm oil until domestic supply is secured at an affordable price.
In fact, millions of farmers, who account for almost 40 percent of the country’s 16 million hectares of oil palm plantations, have been complaining about the steep decline in the price of their fresh fruit bunches as big companies that control the refining industry hesitated to increase stocks.
The world's top palm oil producer last week imposed an export ban on raw materials for cooking oil, including several products such as refined, bleached and deodorized palm olein (RBD), crude and refined palm oil, in an attempt to lower cooking oil prices.
The AGO continues to probe the case linked to alleged mishandling of the issuance of palm oil export permits, with investigators under the assistant attorney general for extraordinary crimes interrogating three Trade Ministry officials on Tuesday.
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