Panelists at an international conference hosted by an Indonesia think tank have pointed to challenges ahead as central banks and policymakers seek to sustain economic growth while containing inflation.

The Reserve Bank of Australia raised the main lending rate by 25 basis points to 0.35 percent, the first increase since November 2010. 

The disruption in shipments after Indonesia widened its export ban to include crude and refined palm oil will create a vegetable oil shortage in top importer India, the officials said. Second-biggest exporter Malaysia is already struggling to meet higher demand levels and is asking for near record prices for prompt shipments, they said.

Many blame the Thailand Pass pre-entry approval system, which can take up to seven days, although the government recently vowed to streamline it.

The world's top palm oil producer expanded an export ban on raw materials for cooking oil to include shipments of crude palm oil and most of its refined products just hours before it took effect at midnight Wednesday, in an attempt to secure domestic supply and bring down soaring prices.

Foreign and domestic direct investment growth post 10-year high, but analysts warn the CPO export ban could harm Indonesia’s appeal in the eyes of investors.

"I didn't even want to sell anymore because I thought, if the price of oil had gone up that much, what am I going to earn?" she said as she stirred a batch of cakes at her street-side stall in Ivory Coast's lagoon-side commercial capital.

As Indonesian companies start to join climate positive movements, APRIL Group is walking the talk on environmental sustainability.

The announcement was a reversal of the minister's statement a day earlier, in which he had said the export ban would only cover refined, bleached, and deodorized (RBD) palm olein.

The Malaysian Palm Oil Board (MPOB), an industry regulator, told Reuters on Monday countries should slow the use of the edible oil as biofuel to ensure adequate supply for use in food, warning of a supply crisis following Indonesia's ban.

Business associations and trade unions support the Ombudsman's proposal to include informal workers in the scheme.

The growth forecast for Asia was cut to 4.9 percent, impacted by the slowdown in China.

The worldwide operational fleet of coal-fired power grew in 2021 by 18 GW,

Sustainable viscose fiber producer Asia Pacific Rayon (APR) reaffirms its commitment to sustainable fashion in Indonesia’s rising Muslim fashion scene with its participation in the 2022 Muslim Fashion Festival (MUFFEST).

Palm oil is the world's most widely used vegetable oil and is used in the manufacture of many products including biscuits, margarine, laundry detergents and chocolate.

Countries are seemingly varied in terms of the level of COVID-19 pandemic recovery, resulting from, among other things, inequal distribution of vaccines, health devices and the lack of funds that poor countries are facing.

Indonesia counts for more than half of the global supply of the edible oil, which is used in everything from cakes, chocolate, margarine and frying fats to cosmetics, soap, shampoo and cleaning products.

The loss of shipments from Ukraine, the world's top supplier of sunflower oil, and drought in the world's top soybean oil exporter Argentina had already sparked a sharp rise in global vegetable oil prices.

Indonesian Finance Minister Sri Mulyani Indrawati, speaking in an interview on Friday, welcomed news that China would join a creditor committee for Zambia, one of three countries that has sought debt relief under the G20 Common Framework agreed with the Paris Club of official creditors.

Sri Mulyani said that with demand exceeding supplies, the ban announced earlier on Friday is "among the harshest moves" the government could take after previous measures failed to stabilize domestic price.

"We cannot be using the same business-as-usual," Sri Mulyani, a former managing director and chief operating officer of the multilateral development bank, told Reuters in an interview. "If you ask whether it needs change, yes."

The country been running low on palm-based cooking oil since November as producers turn to exports to cash in on an increase in prices around the world.

SKK Migas said unplanned shutdowns and a low entry point in 2022 were behind the lower-than-expected production.

The war and the raft of sanctions on Moscow have endangered the global recovery from the COVID-19 pandemic and threatened global cooperation.

Indonesia recorded a budget surplus for the third month in a row in March supported by the improving domestic economy and rising commodity prices.

According to property consultancy Jones Lang Lasalle, revenue per room at top-rated hotels has been steadily increasing since July, with the exception of a slight decrease when the Omicron variant of COVID-19 hit the country in early 2022.

Even before the war, over 800 million people - or 10 percent of the global population - were suffering from chronic food insecurity, Yellen said, and estimates showed higher food prices alone could push at least 10 million more people into poverty.

The lender cut the forecast by 0.8 points to 3.6 percent.

G20 host Indonesia said last week Siluanov had confirmed he planned to attend the G20 meeting on April 20 virtually, Reuters reported.

The new rates are meant to maximize state revenue at a time when coal prices were at record highs.