Increase in Palm Oil Prices: Lutfi Encourages CPO Exports
Trade Minister Muhammad Lutfi said the high price of crude palm oil (CPO) in the world market could encourage exporters to provide affordable prices for the domestic market.
"I want exporters to get good prices abroad to help domestic prices," he said when reviewing the prices of basic necessities at Kramat Jati Market. With good export prices, Lutfi asked exporters to fulfill their domestic market obligations (DMO). ) of 20% of the total export to be supplied to the country. The upward trend in export prices, he explained, would stabilize prices for fresh fruit bunches (FFB) at the farmer level and cooking oil in the market. "With prices going up, it will no longer be a burden for actors, oil palm farmers because foreign prices are getting higher because we are banning exports," said Lutfi. Based on records from the Ministry of Trade, world CPO prices had penetrated the highest level in the second week of January 2022 at the position of Rp. 12,736 per liter. The price was 49.36% higher compared to the same period a year earlier. The Director General of Domestic Trade at the Ministry of Trade, Oke Nurwan, added that the Ministry of Trade has prepared new regulations to suppress price fluctuations and ensure a stable supply of domestic cooking oil amid the ongoing increase in CPO prices on the world market. The new regulation is designed to release the dependence on cooking oil prices from fluctuations in international CPO prices.
|•SOURCE•| Articles :BISNIS | Image : AKURAT|
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