Oil marketing year runs from November to October.
“Indonesia has banned export of palm oil with effect from April 28, 2022 which has queered the pitch and make life difficult for hapless consumer across the world,” SEA said in a statement.
India imports about 6,00,000-6,50,000 tonnes of palm oil per month from Indonesia, Malaysia and Thailand and other countries.
Out of which, Indonesia supplies about 3,00,000 tonnes, mainly RBD Palmolein, and similar quantity arrives from Malaysia and the remaining 10 per cent from Thailand and other countries.
“It is expected, Indonesia may lift the ban before the end of May, however the situation will turn ugly if Indonesia continues to ban the export of palm oil products as enough supply from other origins is not available,” SEA said.