Indonesian President Joko Widodo on Thursday announced that the ban on palm oil exports will be lifted from next week, giving major relief to the global markets where prices of edible oil have peaked on account of trade suspension, the Ukraine war and global warming.

Indonesia announces to lift palm oil exports ban from Monday

On facing shortage of domestic supplies of cooking oil and soaring prices, Indonesia has imposed a complete ban on palm oil exports on Thursday. The ban has led to a huge crisis in the world as the country is the world's largest producer of the commodity, said media reports.

As 290,000-tonne shipments get trapped, Indonesian palm oil export ban to hit India badly

Indonesia has agreed to immediately increase imports of Indian buffalo meat, sugar and auto parts after India boosted purchases of Indonesian palm oil amid a spat with rival supplier Malaysia, two Indian government sources with direct knowledge of the matter told Reuters on Friday.

Indonesia to increase imports from India amid New Delhi-Malaysia spat: Report