PALMOILMAGAZINE, JAKARTA – Nursalam, the Director of the Indonesian Commodity and Derivative Exchange (ICDX), announced that the inaugural physical crude palm oil (CPO) trade commenced last week.
He expressed his belief that this first trade marks a significant milestone for the CPO industry in Indonesia, emphasizing the importance of promoting fair, credible, and efficient trade, as stated in an official statement to Palmoilmagazine.com on Saturday, October 21, 2023.
Yugieandy Tirta, the Director of ICDX, added that the initial physical CPO trade was a local transaction, sourced from Dumai, and carried the Indonesian Sustainable Palm Oil (ISPO) certificate. This trade involved 100 tons of CPO and was executed using the Dutch auction mechanism, achieving a price of Rp 11,305.00 per kilogram.
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This milestone is expected to ignite greater synergy within the CPO industry in Indonesia through the CPO exchange.
VP Membership ICDX, Yohanes F Silaen said that since on 16 October 2023 until now, the participants joining the socialization and training schedules to know every regulation and mechanism reached 32 companies and 57 participants. The numbers showed that the stakeholders were enthusiastic in Indonesian CPO exchange. (T2)
