Indonesia, the world’s biggest exporter of palm oil, introduced a ban on exports of the oil last Friday in order to manage surging food prices.

The move sent palm oil prices to a near six-week high, though prices settled as it became clear that crude palm oil is excluded. Vegetable oil alternatives are already in short supply due to weather events and the impact of the war in Ukraine, which is the world’s largest sunflower oil exporter.

The impact of the ban may drive up prices for importers globally and is giving further rise to concerns about availability of vegetable oils for both retail and manufacture.

There is speculation that the ban may be short-lived as it seeks to force domestic prices down. Reuters pointed to a lack of storage facilities which may put a time limit on the ban.

Last week, Tesco UK moved to ration the sale of cooking oil, limiting customers to three bottles. This comes after similar moves by Morrison’s and Waitrose.

In March it was reported that German retailers including Aldi and Rewe were rationing cooking oil to 2l per household. Customers in Portugal and Spain have also reported similar moves by retailers there.

The use of edible oil as biofuel will likely come into focus in the coming weeks and months as supply for food use tightens.

The UN Food and Agriculture Organisation vegetable oil index is up 33% from the start of the year and almost 60% year to date in March. Vegetable oil is used globally in the manufacture of a large variety of consumer foods, in particular snack foods and confectionery.