Palmoilmagazine, JAKARTA - By the late of April 2022, Indonesia’s palm oil industries hit the anti-climax because President Joko Widodo banned crude palm oil (CPO) and its derivative export. The world responded on it as the signal of the lack of CPO in the globe. As the result, CPO selling price which was at about US$ 1.380/ton, got more expensive in the next day (29/4) up to US$ 1.643/Ton.
CPO and its derivative export ban by President Joko Widodo, was a warning for every palm oil stakeholder nationally that enjoyed the good business. CPO selling price was increasing in the globe and palm cooking oil was too.
If prior palm cooking oil was sold at Rp 14.000/liter, for the increasing CPO selling price in the globe, palm cooking oil in package was Rp 21.000/liter. Heading to Idul Fitri, it was about Rp25.000/liter. The expensive palm cooking oil in Indonesia raised critics and blasphemy.
The students demonstrated (11/4) to get cheaper daily needs, including palm oil. They did it in series, namely that the people’s political rights not to substitute any president’s election for the third times (three periods). This issue was responded by President Joko Widodo in person by saying that he has no will to be a three period - president... for more detail see on palmoilmagazine June 2022.