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View all search resultsIn 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.
Coming amid the multiple impacts of the Russian-Ukraine war, the government's ban on palm oil exports has precipitated a general shortage of cooking oils across the globe and a potential political scandal at home.
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