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Palm oil opportunities? Indonesia’s export ban could mean big winnings for Malaysia – but timing is crucial

Indonesia’s palm oil export ban announced earlier this month has left the door open for Malaysia to swoop in and expand its market share – but this will very much depend on contract timings and labour viability, say industry experts.

Indonesian President Joko Widodo surprised the palm oil sector – and indeed the entire F&B sector – earlier this month when he announced a total export ban on all palm oil, both crude and refined/processed, out of the country to tackle local price hikes.

“The Indonesian people’s need for affordable food takes precedence over revenue and economic concerns right now – once domestic needs have been met, I will of course lift the export ban,”​ Widodo said via a formal statement.

Securing Singapore? Scale of city state’s food security 2030 challenge underlined by new data

The scale of Singapore’s challenge to achieve 30% food self-sufficiency by 2030 has been underlined by new data released by the city state’s national food agency.

According to the inaugural Singapore Food Statistics 2021​ by the Singapore Food Agency (SFA), Singapore is currently producing 4% of vegetables, 8% of seafood and 30% of hen shell eggs domestically. It has ambitions to achieve an overall domestic production target of 30% by 2030 (also known as the ‘30 by 30’ target).

Based on these figures, chapter two of the report suggested a two-pronged approach to remedy the situation domestically – optimising the space available for the agri-food industry and providing more funds to boost production capabilities and capacities through R&D and tech adoption.