CONSUMPTION According to an expert, the supply problem should only be temporary.

In a context of high inflation and social tensions, Indonesian President Joko Widodo initiated an embargo on oilseed exports on 27 April. He considered that supplying his population was now “the highest priority”.

Indonesia is the world’s largest exporter of palm oil. As a result, the prices of various oils, but particularly palm oil, have exploded.

Indonesia, the world’s largest exporter of palm oil
In Europe, 47% of imported palm oil comes from this country, in China 40% and in India 33%. Some companies, like Ferrero, which produces the famous Nutella, could also suffer the consequences of this embargo. But the impact should be limited because only 20% of Ferrero’s palm oil comes from Indonesia compared to 80% from Malaysia.

“The strategy of the Indonesian government has been to relax the price market locally, so there is no reason for this to continue, explained to Figaro Arthur Portier, consultant at Agritel, a consulting firm specializing in the analysis commodity markets in the agricultural sector. A simple suspension of exports in May would allow Indonesia to regain two million tonnes in stocks. It just causes a little short-term hole.”

This specialist therefore rather evokes a “temporary logistical problem” which should be resolved in the next two or three weeks. Nutella lovers can blow.