Indonesia is halting palm oil exports in the midst of high inflation, weather woes and tight supplies Hundreds of people line up to get cooking oils in Palembang, Indonesia on Feb. 24, 2022. Photographer: Muhammad A.F/Anadolu Agency/Getty Images The world’s supply of cooking oil — already squeezed by war — is getting smaller. Two months after Russia’s invasion of Ukraine upended global agricultural trade, Indonesia is set to ban exports of cooking oil in the wake of a local shortage and soaring prices, adding to a raft of crop protectionism around the world. The country accounts for more than a third of global vegetable-oil exports, with China and India, the two most populous countries, among its top buyers. Indonesia’s supply of edible oil to the world is “impossible to replace,” said Carlos Mera, head of agricultural commodity markets research at Rabobank. “It’s definitely a big blow.” Indonesia is the […]