Indonesian President Joko Widodo in a surprise move yesterday, removed his trade minister over a cooking oil crisis that has roiled global markets, by saying the people of Indonesia need someone who is experienced handling the crisis.
Indonesia has been dealing with domestic shortages and sharp price increases for months as the Ukraine war chokes global commodity supplies, despite being the world’s biggest palm oil producer.
In April, the Indonesian government imposed a palm oil export ban. And the export ban was just lifted in June.
President Widodo replaced Muhammad Lutfi from his post in a cabinet shake-up, by naming Zulkifli Hasan, from the ruling coalition, as his successor.
Hasan said his first priority would be to fix the crisis plaguing Indonesia’s 270 million people, many of whom rely on palm oil for food and business.
