Hundreds of farmers protested in the capital, Jakarta, on Tuesday (May 18th), accusing the government of halving their income.
Indonesia, the world’s top palm producer, banned the export of palm oil on April 26 to curb rising prices in the local market.
As a result, the supply of edible oil in the world market has decreased and the price has also increased significantly. However, Indonesian palm farmers have suffered severe losses. There, the price of palm fruit has dropped by almost half.
Rival Malaysia has increased its supply in the wake of Indonesia’s absence in the edible oil market. The country is also benefiting from it. Protesters held banners in Indonesia on Tuesday. One of them read, “Big smiles on the faces of Malaysian farmers, Indonesian farmers suffer.”