PALMOILMAGAZINE, JAKARTA – On Monday, June 26, 2023, the Ministry of Trade conducted a public consultation in Jakarta regarding the Crude Palm Oil (CPO) Export Policy through Exchange in Indonesia. This consultation was carried out by the Badan Pengawas Perdagangan Berjangka Komoditi (Bappebti), which is the supervisory agency for commodity futures trading.
It was led by Secretary of Bappebti, Olvy Andrianita that represented Head in duty of Bappebti and many palm oil stakeholders, such as, corporates’ management, association, representatives of Indonesian Chambers, attended it.
“This is the follow up of the last public consultation that Minister of Trade did on 5 June 2023. Many stakeholders delivered inputs and attention and we now do public consultation to deliver more comprehensive description about the policy draft,” Head in duty of Bappebti, Isy Karim said, as in the official statement to Palmoilmagazine.com.
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Isy Karim also explained, CPO exports through the exchange would get CPO data bank to be more accurate and the same with the Laws number 32 / 1997 as its amendment to be Laws Number 10/2011 about Perdagangan Berjangka Komoditi (PBK) that emphasized that one goal of PBK would be the place to price discovery and establish price reference transparently. It was emphasized by Minister of Trade in his speech in the meeting between Bappebti and Ministry of Trade in 2023.
He continued, CPO exchange that the government entrusts should be trusted institution both in domestic and in international level. It should be able to maximally deliver services to many stakeholders. CPO transaction should be competitive or minimally the same with CPO transaction which runs for all these years by the stakeholders of Indonesia in Bursa Malaysia Derivatives Exchange.
It is hoped the policy to run would be implemented by considering long term – contract and easily implementation. It needs trainings and socialization about the export procedures and mechanism through the exchange to stakeholders. (T2)
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