Shares of Wilmar International suffered their sharpest decline in almost six years after Indonesian authorities named the palm oil giant as a target in a sweeping government probe into suspected export abuses. The heavy selloff signaled deep investor unease over mounting regulatory risk at one of the world’s largest integrated agribusiness and commodity trading groups.

Indonesia holds enormous sway over Wilmar’s sprawling supply chain and trading operations given the agribusiness group’s deep presence there. Alleged export abuses strike directly at the heart of its cross-border business, raising the specter of fines, shipment delays, or tighter licensing requirements that could squeeze profit margins and disrupt established trade flows for the palm oil giant.

The stock collapse delivered its steepest single-session drop in nearly six years, a clear vote of no confidence from shareholders who see regulatory threats as a direct hit to earnings power. Traders have repriced risk aggressively, fully aware that any concrete enforcement action could rattle the company’s ability to source and ship products from its operations there.

With export rules now under active official scrutiny, the probe threatens to constrain the very trade flows that underpin Wilmar’s core revenue base. For investors, the episode serves as a blunt reminder that immense operational scale offers limited protection when regulators in major producing regions decide to tighten enforcement and punish suspected export abuses.