Empowering Literacy Forum to Enhance Understanding of the Indonesian CPO Exchange

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Empowering Literacy Forum to Enhance Understanding of the Indonesian CPO Exchange. Photo by : Ministry of Trade

PALMOILMAGAZINE, MINAHASA – In order to enhance the comprehension and involvement of every plantation owner in the Indonesian Crude Palm Oil (CPO) Exchange, the Commodity Futures Trading Supervisory Agency (CFTSA) under the Ministry of Trade organized a literacy forum.

This forum aimed to provide a comprehensive understanding of the Indonesian CPO Exchange, covering detailed insights into trade transactions delivered by industry experts.

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The Secretary of CFTS, represented by the Examiner of Commodity Future Trading Associate, Danny Agus Setianto, presented a general overview. Following that, Isa Abiyasa Djohari, Vice President in Research and Development at PT Bursa Komoditi dan Derivatif Indonesia (BKDI), delved into the technical details of CPO trade transactions.

Also Read : Vice Minister of Trade, Jerry: Strengthening CPO Trade for State Revenues

Danny told that it is important to get CPO reference price to support fresh fruit bunch price improvement that Ministry of Agriculture decided. Isa also emphasized that to get CPO transaction, every planter should register as member and through Know Your Customer (KYC).

“There would be faster to get CPO reference price if many stakeholders are in and it would be more liquid. There is hardly no negative effect when having CPO transaction in the exchange if every buyer and seller really do understand the mechanism well,” Isa said, as in the official statement to Palmoilmagazine.com, Wednesday (13/12/2023).

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Meanwhile, Secretary of CFTSA, Olvy Andrianita said the institution did many dialogues and education in the past two months. It collaborated with Indonesian Chambers and BKDI. This is the same with the order of Minister of Trade to conduct education and literacy about Indonesian CPO Exchange implementation.

The literacy forum was attended by Head of Industry and Trade North Sumatera Province, Daniel Mewengkang, Vice Chairman of North Sulawesi Indonesian Chambers, Wong Kwe Chen; Invanry Matu the representative of Manado Indonesian Chambers, and other 100 participants and media. (T2)

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