Hundreds of Indonesian smallholder farmers protested Friday in Jakarta and other parts of the world’s fourth-most populated country, demanding that the government lift a restriction on palm oil exports that has reduced their income.

Indonesia, the world’s largest palm oil exporter, has banned shipments of crude palm oil and several of its derivative products since April 28 in an effort to control skyrocketing local cooking oil prices, upsetting global vegetable oil markets.

Farmers marched behind a truck loaded with palm oil fruit outside the offices of the Indonesian Coordinating Ministry of Economic Affairs, which is in charge of government policies.

“Malaysian farmers are wearing full smiles, Indonesian farmers suffer,” one of the signs held up by protesters read.

Malaysia, the world’s second-largest producer of palm oil, has stated that it intends to serve markets left open by Indonesia’s export prohibition.

The smallholder farmers’ organisation APKASINDO claimed in a statement that since the export restriction was announced, the price of palm fruit had plunged 70% below the floor price set by regional authorities.

Meanwhile, according to APKASINDO, at least 25% of palm oil factories have ceased purchasing palm fruit from independent farmers.

The demonstrators also intended to march to the presidential palace, according to the group.

It was reported that similar protests were taking place in 22 other provinces.

After a succession of initiatives failed to regulate the price of the fundamental household food item, Indonesian President Joko Widodo issued an export restriction on palm oil and its derivative products used in the production of cooking oil.

According to a recent poll, Widodo’s approval rating has dropped to its lowest level since December 2015, owing to rising prices.

According to Indikator Politik Indonesia, satisfaction with Widodo plummeted to 58.1 percent this month, the lowest level since December 2015, when the president’s approval rating dipped to 53 percent.

Airlangga Hartarto, Indonesia’s Chief Minister of Economics, has stated that the ban will remain in effect until bulk cooking oil prices in Indonesia fall to 14,000 rupiah (US$0.96) per litre.

According to data from the Indonesian Ministry of Trade, bulk cooking oil was priced on average at 17,300 rupiah per litre on Friday.

For the latest International News Follow BOL News on Google News. Read more on Latest International News on oldsite.bolnews.com