Indonesia's finance minister says palm oil export ban will hurt other countries, but necessary
WASHINGTON, April 24 (Reuters): Indonesia's new palm oil export ban will hurt other countries but is necessary to try to bring down the soaring domestic price of cooking oil driven up by Russia's war in Ukraine, Indonesia's finance minister told Reuters during a special interview.
Sri Mulyani Indrawati said that with demand exceeding supplies, the ban announced earlier on Friday is "among the harshest moves" the government could take after previous measures failed to stabilize domestic prices.
"We know that this is not going to be the best result," for global supplies, she said in an interview on the sidelines of the International Monetary Fund and World Bank spring meetings. "If we are not going to export, that's definitely going to hit the other countries."
