Jakarta, 22 May 2026 – Indonesian palm oil prices fell sharply after President Prabowo Subianto unveiled plans to place exports of key commodities, including palm oil, under tighter state control, triggering uncertainty among traders, exporters and regional buyers.
Daily bids for crude palm oil at Dumai port dropped to as low as 11,777 rupiah per kilogram after the policy announcement, representing a fall of about 23% from the previous day. Bids reportedly moved even lower to around 8,000 rupiah the following day, highlighting the scale of market confusion following the government’s proposal.
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