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allegedly cost the state 78 trillion rupiah (U.S. $5.2 billion) in potential losses, making it the largest corruption case in the country’s history, authorities said.
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#palmoil#corruption#indonesia
An Indonesian businessman suspected of converting forests into palm oil plantations as part of a mega corruption case was arrested upon arrival from overseas as he turned himself in on Monday after being on the run for eight years, the attorney general’s office said.
#palm production and stocks bothly increasing in Malaysia and export is concern after Indonesia export policy and easing supply from black sea also put pressure on palm,USDA forecast also high for soya and rapeseed.
"We expect prices next week to hover between MR4,000 and MR4,600 per tonne due to stronger export expectations," said palm oil trader David Ng, quoted from Bernama, Sunday (14/8/2022).
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#palmoil#cpoprice#malaysia
The price of crude palm oil (CPO) on the Malaysian futures exchange next week is projected to strengthen amid expectations of an estimated increase in exports.
#palm Indonesia's June supply&demand data for palm oil palm were released. Stocks fell by 7.5% to 6.7 Mts (million tons), but remain historically high. At the same time last year they were 4.3 Mts.
Soybean Further cuts in US soybean yields are expected in today's USDA report.
The export tax goes up for every $50 price increase in the reference prices, which are set periodically by the trade ministry.
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#palmoil#cpo#export#indonesia
Indonesia on Tuesday lowered its threshold for applying export tax on crude palm oil to a reference price of $680 per tonne, down from $750 per tonne previously, according to a finance ministry regulation.
The lowering of the threshold took effect on Tuesday.
FCPO rises higher from the expectation of an increase in #Indonesian#palmoil export tax for the period 16-31, diminishing #Indonesian discount advantage
#palm oil is trading higher on the back of the soybean rally following the announcement that the US will move to the next stage a bill that contemplates an increase in the use of biofuels, and therefore the use of soybean oil.but SFO supply form Ukraine seems to hold the uptrend
The price of crude palm oil (CPO) is predicted to move in the range of MYR3,500-4,000 per ton. Analysts assess, CPO prices will still fluctuate looking for a new balance.
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#palmoil#cpoprice#palmoilindustry
Regarding the provisions on the determination of the export benchmark price (HPE) and the mandatory multiplier ratio to meet domestic market obligation (DMO) CPO and its derivatives.
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#palmoil#export#indonesia
The Minister of Trade (Mendag) Zulkifli Hasan (Zulhas) and his subordinates set 2 new regulations related to the export of crude palm oil (CPO) and its derivatives. cont-
#palm Indonesia is seeking to extend the export tax reduction beyond the end of August,in addition to having reduced the CPO reference price for export tax reduces the total export price.Malaysian prices will need to follow the downward trend to be competitive against Indonesia.
would have the effect of increasing the price of fresh fruit bunches (FFB) for palm oil at the farmer level to above Rp. 2,000 per kg.
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#palmoil#cpo#indonesia
The Minister of Trade (Mendag) Zulkifli Hasan (Zulhas) has set a new policy related to the export of crude palm oil (CPO). Namely, increasing the ratio of the export rights multiplier for the distribution of cooking oil in the country (domestic market obligation / DMO).
With this policy, said Zulhas, the export quota for CPO and its derivative products will be bigger. In addition, the temporary abolition of export levies (PE BPDPKS), he said, cont-
"There will be a ceiling price for 5kg bottles of pure palm oil used for cooking starting Aug 8, with the initial price set at RM34.70,"- Tan Sri Datuk Seri Annuar Musa, Chairman of Jihad Against Inflation special task force
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