Thailand restricts palm oil exports to address the global energy tensions triggered by Middle Eastern conflicts

As energy tensions driven by the Middle East conflict increase demand for alternative fuels, Thailand will begin regulating exports of crude palm oil to ensure a steady supply of feedstock for biofuels. Thailand’s Ministry of Commerce said in a statement on Monday that, starting April 7, exporters must obtain prior approval before shipping. The statement said the measure will be implemented for one year, allowing the government to better manage domestic palm oil inventories—“to adapt to changing energy conditions and prevent shortages.” (Caixin Global)