Shares of top Indonesian palm oil companies tumble after export ban

JAKARTA : Shares of some of Indonesia's biggest palm oil companies fell on Monday after the government announced it would ban exports of cooking oil and its raw material starting April 28 to try to bring down domestic prices.

Astra Agro Lestari and Triputra Agro Persada suffered shares losses of more than 6 per cent, while Salim Invomas Pratama dropped 5.5 per cent and Sinar Mas Agro Resources and Technology slid 2.75 per cent soon after Monday's market opening. Indonesia, which is the world's top palm oil producer, sent a shockwave through global markets last Friday by announcing the ban.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Indonesian farmers support palm oil export banJAKARTA: Indonesia\u0027s Oil Palm Farmers Union said on Sunday (Apr 24) it supported the government\u0027s ban on palm oil exports, calling it a temporary measure that was needed to ensure supply and affordability of cooking oil in the domestic market. The statement came after President Joko Widodo annou
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »