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AP National Business

Indonesia to ban exports of cooking oil to reduce shortages

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Published 7:25 AM

By EDNA TARIGAN
Associated Press

JAKARTA, Indonesia (AP) — Indonesia will ban exports of cooking oil and its raw materials to reduce domestic shortages and hold down skyrocketing prices. President Joko Widodo announced the policy on Friday, a day after hundreds of people protested in the capital against rising food costs. He says the ban will begin next week and will continue for an undetermined length of time. The announcement came three days after the Attorney General’s Office announced a corruption investigation involving a senior Trade Ministry official who is suspected of issuing export permits for crude palm oil and its derivative products that resulted in domestic shortages and sharply higher prices for cooking oil. 

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