EXPLAINER: WHY INDONESIA’S LEADER IS VISITING KYIV, MOSCOW
Indonesian President Joko Widodo, whose country holds the rotating presidency of the Group of 20 leading rich and developing nations, is visiting Ukraine and Russia for meetings with the leaders of the two warring nations after attending the Group of Seven summit in Germany.
Indonesian President Joko Widodo, whose country holds the rotating presidency of the Group of 20 leading rich and developing nations, is visiting Ukraine and Russia for meetings with the leaders of the two warring nations after attending the Group of Seven summit in Germany.
Правительство перевело в рубли пошлины на экспорт зерна, подсолнечного масла и шрота
Для перевода в рубли вводится среднеарифметический курс доллара к рублю за пять дней
Правительство приняло постановление о переводе в рубли пошлин на экспорт зерна, подсолнечного масла и шрота из России. Документ также предусматривает продление на год, до 31 августа 2023 года, пошлины на экспорт подсолнечного масла и подсолнечного шрота.
Для перевода в рубли вводится среднеарифметический курс доллара к рублю за пять дней
Правительство приняло постановление о переводе в рубли пошлин на экспорт зерна, подсолнечного масла и шрота из России. Документ также предусматривает продление на год, до 31 августа 2023 года, пошлины на экспорт подсолнечного масла и подсолнечного шрота.
Indonesia looks to raise palm oil export quota
JAKARTA : Indonesia proposed raising palm oil export quotas on Friday and is considering increasing mandatory levels of biodiesel in fuel mixes to prop prices for farmers at a time when domestic palm oil inventories are high, a senior minister said on Saturday.
JAKARTA : Indonesia proposed raising palm oil export quotas on Friday and is considering increasing mandatory levels of biodiesel in fuel mixes to prop prices for farmers at a time when domestic palm oil inventories are high, a senior minister said on Saturday.
VEGOILS-Palm oil extends losses as Indonesia mulls raising export quota
JAKARTA, July 4 (Reuters) - Malaysian palm oil futures fell for a second day on Monday after top palm oil producer Indonesia said it is considering a larger export quota to reduce high domestic inventories, while weaker rival oils also weighed on prices.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange fell 2.1% to 4,611 ringgit ($1,046.05) per tonne during early trade.
The contract dropped 4% on Friday.
FUNDAMENTALS
Indonesia proposed raising palm oil export quotas and is considering increasing mandatory levels of biodiesel in fuel mixes to prop prices for farmers at a time when domestic palm oil inventories are high, a senior minister said on Saturday.
Meanwhile, Dalian's most-active soyoil contract DBYv1 fell 1.97%, while its palm oil contract DCPv1 slipped 2.24%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Oil prices fell in early Asian trade on Monday, paring gains from the previous session as fears of global recession weighed on the market even as supply remains tight amid lower OPEC output, unrest in Libya and sanctions on Russia.
Weaker crude futures make palm a less attractive option for biodiesel feedstock.
Palm oil may stabilize around a support at 4,588 ringgit per tonne, and test a resistance at 4,742 ringgit thereafter, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian share markets started cautiously on Monday as a run of soft U.S. data suggested downside risks for this week's June payrolls report, while the hubbub over possible recession was still driving a relief rally in government bonds.
JAKARTA, July 4 (Reuters) - Malaysian palm oil futures fell for a second day on Monday after top palm oil producer Indonesia said it is considering a larger export quota to reduce high domestic inventories, while weaker rival oils also weighed on prices.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange fell 2.1% to 4,611 ringgit ($1,046.05) per tonne during early trade.
The contract dropped 4% on Friday.
FUNDAMENTALS
Indonesia proposed raising palm oil export quotas and is considering increasing mandatory levels of biodiesel in fuel mixes to prop prices for farmers at a time when domestic palm oil inventories are high, a senior minister said on Saturday.
Meanwhile, Dalian's most-active soyoil contract DBYv1 fell 1.97%, while its palm oil contract DCPv1 slipped 2.24%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Oil prices fell in early Asian trade on Monday, paring gains from the previous session as fears of global recession weighed on the market even as supply remains tight amid lower OPEC output, unrest in Libya and sanctions on Russia.
Weaker crude futures make palm a less attractive option for biodiesel feedstock.
Palm oil may stabilize around a support at 4,588 ringgit per tonne, and test a resistance at 4,742 ringgit thereafter, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian share markets started cautiously on Monday as a run of soft U.S. data suggested downside risks for this week's June payrolls report, while the hubbub over possible recession was still driving a relief rally in government bonds.
VEGOILS-Palm oil drops for third day on concern of larger Indonesian exports
JAKARTA, July 5 (Reuters) - Malaysian palm oil futures fell on Tuesday for a third straight session on concerns that Indonesia's plan to increase export quota would hurt demand.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange fell 1.13% to 4,301 ringgit ($973.96) per tonne during early trade. It extended a 7.6% loses posted on Monday.
FUNDAMENTALS
Indonesia proposed raising palm oil export quotas and is considering increasing mandatory levels of biodiesel in fuel mixes to prop prices for farmers at a time when domestic palm oil inventories are high, a senior minister said.
Meanwhile, Dalian's most-active soyoil contract DBYv1 fell 2.76%, while its palm oil contract DCPv1 slipped 2.56%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Brent crude futures extended gains on Tuesday as a strike in Norway is expected to disrupt oil and gas output, fanning tight supply worries.
Stronger crude futures make palm a more attractive option for biodiesel feedstock.
Palm oil may retest a support at 4,267 ringgit per tonne, a break below which could open the way towards 3,900-4,090 ringgit range, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian shares rose on Tuesday morning as Japan reported positive economic data, while oil prices continued its Monday increase on tight supply.
JAKARTA, July 5 (Reuters) - Malaysian palm oil futures fell on Tuesday for a third straight session on concerns that Indonesia's plan to increase export quota would hurt demand.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange fell 1.13% to 4,301 ringgit ($973.96) per tonne during early trade. It extended a 7.6% loses posted on Monday.
FUNDAMENTALS
Indonesia proposed raising palm oil export quotas and is considering increasing mandatory levels of biodiesel in fuel mixes to prop prices for farmers at a time when domestic palm oil inventories are high, a senior minister said.
Meanwhile, Dalian's most-active soyoil contract DBYv1 fell 2.76%, while its palm oil contract DCPv1 slipped 2.56%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Brent crude futures extended gains on Tuesday as a strike in Norway is expected to disrupt oil and gas output, fanning tight supply worries.
Stronger crude futures make palm a more attractive option for biodiesel feedstock.
Palm oil may retest a support at 4,267 ringgit per tonne, a break below which could open the way towards 3,900-4,090 ringgit range, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian shares rose on Tuesday morning as Japan reported positive economic data, while oil prices continued its Monday increase on tight supply.
Trade Facilitation through the Establishment of Storage and Warehousing Facility in the Selected African Markets.
https://mpoc.org.my/trade-facilitation-through-the-establishment-of-storage-and-warehousing-facility-in-the-selected-african-markets/
Egypt, Djibouti, Ethiopia, Somalia, Sudan and South Sudan are among the major markets in Africa, particularly the East Africa. These six countries have a combined population of about 290 million or 21% of the total Africa population of 1,373 million people (2021 est). This area has a very rapid population growth of 3% per annum. […]
https://mpoc.org.my/trade-facilitation-through-the-establishment-of-storage-and-warehousing-facility-in-the-selected-african-markets/
Egypt, Djibouti, Ethiopia, Somalia, Sudan and South Sudan are among the major markets in Africa, particularly the East Africa. These six countries have a combined population of about 290 million or 21% of the total Africa population of 1,373 million people (2021 est). This area has a very rapid population growth of 3% per annum. […]
*Prices Plummet, Indonesian Farmers Sell Palm Oil to Malaysia*
CNN New Zealand
Monday, 04 Jul 2022 08:24 WIB
Indonesian oil palm farmers are busy selling fresh fruit bunches (FFB) to Malaysia. This was triggered by the plummeting price of these commodities in the country.
Jakarta, CNN Indonesia --
Indonesian palm oil farmers are busy selling fresh fruit bunches (FFB) to Malaysia. This was triggered by the plummeting price of these commodities in the country.
The incident is known from a video uploaded by @majeliskopi08 Instagram account on Saturday (2/7). In the video, several trucks carrying palm oil are seen stopped on a road.
"We want to bring fruit to Malaysia, we bring today 30 tons, because the price of fruit in Indonesia is like in his words Indra Kenz 'Wow, it's really cheap'," said a man in the video.
Meanwhile, confirmed separately, the Chairman of the Indonesian Palm Oil Farmers Association (Apkasindo) Gulat Manurung confirmed the sell-off. He said the farmers did sell FFB to Malaysia because of the higher price.
The sale is carried out by oil palm farmers in provinces bordering neighboring countries, such as North Kalimantan and Central Kalimantan.
"Indeed, in terms of regulation, it is not justified. But I don't know how else. Many mills (palm oil mills) have rejected smallholders' FFB, and many have even closed. Meanwhile, oil palm farmers must continue their lives and pay for their families," he told CNNIndonesia.com, Monday (4/7).
Wrestling said the significant price difference was one of the reasons. In Malaysia, the price of FFB is still in the range of Rp3,500 to Rp4,500 per kg.
Meanwhile, the price of FFB in North Kalimantan and Central Kalimantan is only around Rp1,200 to Rp1,600 per kg.
Wrestling said under these conditions all parties are harmed, whether farmers, the state, corporations. Therefore, he reminded the government to find out the cause of the fall in domestic FFB prices.
"The state should not just appeal, but fix which is the main cause. It's all a race against time, before it's too late," he said.
CNN New Zealand
Monday, 04 Jul 2022 08:24 WIB
Indonesian oil palm farmers are busy selling fresh fruit bunches (FFB) to Malaysia. This was triggered by the plummeting price of these commodities in the country.
Jakarta, CNN Indonesia --
Indonesian palm oil farmers are busy selling fresh fruit bunches (FFB) to Malaysia. This was triggered by the plummeting price of these commodities in the country.
The incident is known from a video uploaded by @majeliskopi08 Instagram account on Saturday (2/7). In the video, several trucks carrying palm oil are seen stopped on a road.
"We want to bring fruit to Malaysia, we bring today 30 tons, because the price of fruit in Indonesia is like in his words Indra Kenz 'Wow, it's really cheap'," said a man in the video.
Meanwhile, confirmed separately, the Chairman of the Indonesian Palm Oil Farmers Association (Apkasindo) Gulat Manurung confirmed the sell-off. He said the farmers did sell FFB to Malaysia because of the higher price.
The sale is carried out by oil palm farmers in provinces bordering neighboring countries, such as North Kalimantan and Central Kalimantan.
"Indeed, in terms of regulation, it is not justified. But I don't know how else. Many mills (palm oil mills) have rejected smallholders' FFB, and many have even closed. Meanwhile, oil palm farmers must continue their lives and pay for their families," he told CNNIndonesia.com, Monday (4/7).
Wrestling said the significant price difference was one of the reasons. In Malaysia, the price of FFB is still in the range of Rp3,500 to Rp4,500 per kg.
Meanwhile, the price of FFB in North Kalimantan and Central Kalimantan is only around Rp1,200 to Rp1,600 per kg.
Wrestling said under these conditions all parties are harmed, whether farmers, the state, corporations. Therefore, he reminded the government to find out the cause of the fall in domestic FFB prices.
"The state should not just appeal, but fix which is the main cause. It's all a race against time, before it's too late," he said.
Bunge ищет покупателя на российский бизнес
Американская Bunge собирается сократить присутствие в России, продав компанию "Бунге СНГ", которой, в частности, принадлежит один из крупных маслоэкстракционных заводов РФ.
Маслоэкстракционный завод в Воронежской области Bunge ввела в 2008 году. Инвестиции в него превысили $130 млн. Мощности предприятия рассчитаны на переработку 540 тыс. тонн сырья и производство более 200 млн бутылок подсолнечного масла в год. В портфеле ООО "Бунге СНГ" торговые марки "Олейна", Ideal, "Масленица" и др.
Американская Bunge собирается сократить присутствие в России, продав компанию "Бунге СНГ", которой, в частности, принадлежит один из крупных маслоэкстракционных заводов РФ.
Маслоэкстракционный завод в Воронежской области Bunge ввела в 2008 году. Инвестиции в него превысили $130 млн. Мощности предприятия рассчитаны на переработку 540 тыс. тонн сырья и производство более 200 млн бутылок подсолнечного масла в год. В портфеле ООО "Бунге СНГ" торговые марки "Олейна", Ideal, "Масленица" и др.
Пошлину на экспорт подсолнечного масла и шрота из РФ могут продлить на год
Пошлина на экспорт подсолнечного масла и подсолнечного шрота из РФ может быть продлена на год, до 31 августа 2023 года.
Базовой ценой для расчета пошлин на подсолнечное масло может стать 82 500 рублей за тонну, на шрот – 13 875 рублей за тонну.
Для перевода в рубли в формулу расчета пошлин вводится такой показатель, как "среднеарифметический курс доллара США по отношению к валюте Российской Федерации, устанавливаемый Центральным банком Российской Федерации за 5 рабочих дней, предшествующих дате расчета ставки вывозной таможенной пошлины на зерновые культуры".
В настоящее время размер пошлины на подсолнечное масло составляет 70% от разницы между базовой ценой ($1 тыс. за тонну) и индикативной ценой (среднее арифметическое рыночных цен за месяц), уменьшенной на величину корректирующего коэффициента ($50 за 1 тонну).
Экспортная пошлина на подсолнечный шрот рассчитывается по формуле как разница между индикативной ценой (среднее арифметическое рыночных цен за месяц) и базовой ценой ($185 за тонну), умноженная на величину корректирующего коэффициента (0,7).
Пошлина на экспорт подсолнечного масла и подсолнечного шрота из РФ может быть продлена на год, до 31 августа 2023 года.
Базовой ценой для расчета пошлин на подсолнечное масло может стать 82 500 рублей за тонну, на шрот – 13 875 рублей за тонну.
Для перевода в рубли в формулу расчета пошлин вводится такой показатель, как "среднеарифметический курс доллара США по отношению к валюте Российской Федерации, устанавливаемый Центральным банком Российской Федерации за 5 рабочих дней, предшествующих дате расчета ставки вывозной таможенной пошлины на зерновые культуры".
В настоящее время размер пошлины на подсолнечное масло составляет 70% от разницы между базовой ценой ($1 тыс. за тонну) и индикативной ценой (среднее арифметическое рыночных цен за месяц), уменьшенной на величину корректирующего коэффициента ($50 за 1 тонну).
Экспортная пошлина на подсолнечный шрот рассчитывается по формуле как разница между индикативной ценой (среднее арифметическое рыночных цен за месяц) и базовой ценой ($185 за тонну), умноженная на величину корректирующего коэффициента (0,7).
VEGOILS-Palm oil drops for fifth day on recession risks
KUALA LUMPUR, July 7 (Reuters) - Malaysian palm oil futures extended losses for a fifth session on Thursday, as persistent concerns over a global recession hammered the market.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange slid 64 ringgit, or 1.58%, to 3,991 ringgit ($902.12) a tonne during early trade.
It declined 3.9% overnight, also weighed by demand concerns as rival and top producer Indonesia, which is facing soaring inventories, raised its export volumes.
FUNDAMENTALS
Dalian's most-active soyoil contract DBYcv1 fell 0.7%, while its palm oil contract DCPcv1 slumped 2.4%. Soyoil prices on the Chicago Board of Trade BOcv1 were up 1.5%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Brent crude futures extended declines for a third session on Thursday, slipping under $100 a barrel, as fears of a potential global recession spurred concerns about oil demand.
Weaker crude oil futures make palm a less attractive option for biodiesel feedstock.
Palm oil may retest a support at 3,782 ringgit per tonne, a break below could open the way towards 3,592 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Wall Street ticked upward while oil continued to slide on Wednesday, as investors juggled concerns over inflation versus a recession after Federal Reserve minutes showed officials rallied around a large rate hike at their June meeting.
KUALA LUMPUR, July 7 (Reuters) - Malaysian palm oil futures extended losses for a fifth session on Thursday, as persistent concerns over a global recession hammered the market.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange slid 64 ringgit, or 1.58%, to 3,991 ringgit ($902.12) a tonne during early trade.
It declined 3.9% overnight, also weighed by demand concerns as rival and top producer Indonesia, which is facing soaring inventories, raised its export volumes.
FUNDAMENTALS
Dalian's most-active soyoil contract DBYcv1 fell 0.7%, while its palm oil contract DCPcv1 slumped 2.4%. Soyoil prices on the Chicago Board of Trade BOcv1 were up 1.5%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Brent crude futures extended declines for a third session on Thursday, slipping under $100 a barrel, as fears of a potential global recession spurred concerns about oil demand.
Weaker crude oil futures make palm a less attractive option for biodiesel feedstock.
Palm oil may retest a support at 3,782 ringgit per tonne, a break below could open the way towards 3,592 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Wall Street ticked upward while oil continued to slide on Wednesday, as investors juggled concerns over inflation versus a recession after Federal Reserve minutes showed officials rallied around a large rate hike at their June meeting.
GRAINS-Wheat jumps over 2% as market recovers from near 5-month low
SINGAPORE, July 7 (Reuters) - Chicago wheat futures rose more than 2% on Thursday, with prices climbing for the first time in six sessions, supported by bargain-buying and concerns over lower Black Sea supplies.
Corn and soybeans gained more than 1%.
FUNDAMENTALS
The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 added 2.3% to $8.23 a bushel, as of 0039 GMT, after dropping to its lowest since Feb. 17 at $7.85 a bushel on Wednesday.
Corn Cv1 rose 1.5% to $5.93-1/4 a bushel and soybeans Sv1 gained 1.3% at $13.40-1/2 a bushel.
French consultancy Agritel expects war-hit Ukraine to harvest 21.8 million tonnes of wheat this summer compared to a record 32.2 million collected last year, it said on Wednesday.
The estimate for the 2022/23 season was based on an expected harvested area of 5.8 million hectares, down from 6.7 million hectares initially sown by farmers, said Agritel, which is part of commodity pricing group Argus.
For corn and soybeans, traders are also keeping an eye on U.S. crop weather. The U.S. Department of Agriculture, in a daily weather report, said rain showers and thunderstorms from Nebraska to Ohio were greatly benefiting fields.
The agency, in a separate weekly report issued on Tuesday, rated 64% of the corn crop as good to excellent as of Sunday, down 3 percentage points from the previous week. Analysts surveyed by Reuters on average had expected a two-point decline.
Commodity funds were net sellers of CBOT wheat and soyoil futures contracts on Wednesday, and net buyers of corn, soybeans and soymeal futures, traders said.
MARKET NEWS
Wall Street ticked upward while oil continued to slide on Wednesday as investors juggled concerns over inflation versus a recession after Federal Reserve minutes showed officials rallied around a large rate hike at their June meeting.
SINGAPORE, July 7 (Reuters) - Chicago wheat futures rose more than 2% on Thursday, with prices climbing for the first time in six sessions, supported by bargain-buying and concerns over lower Black Sea supplies.
Corn and soybeans gained more than 1%.
FUNDAMENTALS
The most-active wheat contract on the Chicago Board of Trade (CBOT) Wv1 added 2.3% to $8.23 a bushel, as of 0039 GMT, after dropping to its lowest since Feb. 17 at $7.85 a bushel on Wednesday.
Corn Cv1 rose 1.5% to $5.93-1/4 a bushel and soybeans Sv1 gained 1.3% at $13.40-1/2 a bushel.
French consultancy Agritel expects war-hit Ukraine to harvest 21.8 million tonnes of wheat this summer compared to a record 32.2 million collected last year, it said on Wednesday.
The estimate for the 2022/23 season was based on an expected harvested area of 5.8 million hectares, down from 6.7 million hectares initially sown by farmers, said Agritel, which is part of commodity pricing group Argus.
For corn and soybeans, traders are also keeping an eye on U.S. crop weather. The U.S. Department of Agriculture, in a daily weather report, said rain showers and thunderstorms from Nebraska to Ohio were greatly benefiting fields.
The agency, in a separate weekly report issued on Tuesday, rated 64% of the corn crop as good to excellent as of Sunday, down 3 percentage points from the previous week. Analysts surveyed by Reuters on average had expected a two-point decline.
Commodity funds were net sellers of CBOT wheat and soyoil futures contracts on Wednesday, and net buyers of corn, soybeans and soymeal futures, traders said.
MARKET NEWS
Wall Street ticked upward while oil continued to slide on Wednesday as investors juggled concerns over inflation versus a recession after Federal Reserve minutes showed officials rallied around a large rate hike at their June meeting.
Market Forum 2022 : Exploring Opportunities with MPOC
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Malaysia end-June palm oil stocks hit 7-month high as exports drop
KUALA LUMPUR: Malaysia's palm oil inventories at end-June likely climbed to their highest levels in seven months, as exports plunged following top producer Indonesia's return to the export market, a Reuters survey showed on Tuesday.
Stockpiles in the world's second-largest producer are forecast to rise 12.3% from the prior month to 1.71 million tonnes, according to the median estimate of eight traders and analysts polled by Reuters.
Production is seen expanding 8.3% to 1.58 million tonnes, its highest level since December.
Supply is set for a climb, but the rise in production appears to have tapered off in Peninsular Malaysia, likely due to mills reducing the purchase of palm fruits, said Sathia Varqa, co-founder of Singapore-based Palm Oil Analytics.
KUALA LUMPUR: Malaysia's palm oil inventories at end-June likely climbed to their highest levels in seven months, as exports plunged following top producer Indonesia's return to the export market, a Reuters survey showed on Tuesday.
Stockpiles in the world's second-largest producer are forecast to rise 12.3% from the prior month to 1.71 million tonnes, according to the median estimate of eight traders and analysts polled by Reuters.
Production is seen expanding 8.3% to 1.58 million tonnes, its highest level since December.
Supply is set for a climb, but the rise in production appears to have tapered off in Peninsular Malaysia, likely due to mills reducing the purchase of palm fruits, said Sathia Varqa, co-founder of Singapore-based Palm Oil Analytics.
Indonesia sees B40 biodiesel mix absorbing extra 2.5 mln tonnes of palm oil
JAKARTA, July 7 (Reuters) - Senior Indonesian minister Luhut Pandjaitan estimated on Thursday that an additional 2.5 million tonnes of palm oil could be absorbed by the domestic market if the country raised the amount of palm oil in its biodiesel mix to 40% (B40).
The world's biggest palm oil maker currently has a mandatory 30% blend of palm oil-based fuel in biodiesel, but is considering whether to increase the mix to help reduce inventory of the vegetable oil. Luhut added that the country may also export some of the biodiesel.
JAKARTA, July 7 (Reuters) - Senior Indonesian minister Luhut Pandjaitan estimated on Thursday that an additional 2.5 million tonnes of palm oil could be absorbed by the domestic market if the country raised the amount of palm oil in its biodiesel mix to 40% (B40).
The world's biggest palm oil maker currently has a mandatory 30% blend of palm oil-based fuel in biodiesel, but is considering whether to increase the mix to help reduce inventory of the vegetable oil. Luhut added that the country may also export some of the biodiesel.
Indonesia considering cutting palm oil export levy to spur shipments
To jumpstart exports, the government needs to make extra effort to quickly cut domestic stocks and prop up palm fruit prices for farmers that have slumped since the ban, Senior Minister Luhut Pandjaitan said at an industry event.
To jumpstart exports, the government needs to make extra effort to quickly cut domestic stocks and prop up palm fruit prices for farmers that have slumped since the ban, Senior Minister Luhut Pandjaitan said at an industry event.