{"id":22608,"date":"2023-01-27T16:07:23","date_gmt":"2023-01-27T09:07:23","guid":{"rendered":"https:\/\/gapki.id\/en\/?p=22608"},"modified":"2023-01-27T16:07:23","modified_gmt":"2023-01-27T09:07:23","slug":"its-time-for-ri-to-set-own-benchmark-price-of-palm-oil","status":"publish","type":"post","link":"https:\/\/gapki.id\/en\/news\/2023\/01\/27\/its-time-for-ri-to-set-own-benchmark-price-of-palm-oil\/","title":{"rendered":"It\u2019s Time For RI To Set Own Benchmark Price of Palm Oil"},"content":{"rendered":"

Jakarta \u2013 Trade Minister Zulkifli Hasan (Zulhas) has instructed the Commodity Futures Trading Supervisory Board (Bappebti) to formulate soon Indonesia\u2019s own benchmark price of crude palm oil (CPO). Until now, Indonesia has always referred to the prices in Malaysia despite it is the largest producer of palm oil in the world.<\/p>\n

\"\"<\/a><\/p>\n

\u201cIt\u2019s been several times questioned during cabinet meeting, why we still refer to Malaysia as we\u2019re the world\u2019s largest producer. It\u2019s not good for Bappebti. We have the Bappebti, but why we should refer to Malaysia,\u201d Minister Zulhas said when addressing the work meeting of Bappebti at the office building of the trade ministry in Jakarta on Thursday, 19 January 2023.<\/p>\n

Zulhas targeted that the Indonesia\u2019s reference price for CPO can be established in June 2023. That way Indonesia will be able to set the global benchmark price of CPO. \u201cUnder the authority of Bappebti, we\u2019re trying to realize it gradually for the palm oil commodity,\u201d he said.<\/p>\n

Besides the CPO, Bappebti has been also asked by the minister to set reference prices for coffee and rubber. As of now, Indonesia has only had a benchmark price of tin.<\/p>\n

\u201cWith its authority, Bappebti should set the benchmark prices of CPO, coffee and rubber. We hope in June this year the CPO\u2019s benchmark price will be realized,\u201d he said.<\/p>\n

Indonesia has been known as the largest producer and exporter of palm oil in the world, but it has not yet had its benchmark price of palm oil. Until now, the global palm oil traders and producers, including those in Indonesia, have always referred to the two futures markets in Kuala Lumpur (MDEX), Malaysia and Rotterdam in the Netherlands. (*)<\/p>\n

Source: finance.detik.com<\/a><\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Jakarta \u2013 Trade Minister Zulkifli Hasan (Zulhas) has instructed the Commodity Futures Trading Supervisory Board (Bappebti) to formulate soon Indonesia\u2019s own benchmark price of crude palm oil (CPO). Until now, Indonesia has always referred to the prices in Malaysia despite it is the largest producer of palm oil in the world.<\/p>\n","protected":false},"author":1,"featured_media":22609,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","neve_meta_reading_time":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[3708,3709],"tags":[],"class_list":["post-22608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-publication","category-recent-news"],"yoast_head":"\nIt\u2019s Time For RI To Set Own Benchmark Price of Palm Oil - 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The futures exchange is expected to become a benchmark price setter for the crude palm oil (CPO) of Indonesia, which is the world\u2019s biggest producer and\u2026","rel":"","context":"In "Publication"","block_context":{"text":"Publication","link":"https:\/\/gapki.id\/en\/news\/category\/publication\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/gapki.id\/en\/allies-en\/uploads\/2023\/06\/palmoil_reuters.com_id.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/gapki.id\/en\/allies-en\/uploads\/2023\/06\/palmoil_reuters.com_id.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/gapki.id\/en\/allies-en\/uploads\/2023\/06\/palmoil_reuters.com_id.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/gapki.id\/en\/allies-en\/uploads\/2023\/06\/palmoil_reuters.com_id.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":22645,"url":"https:\/\/gapki.id\/en\/news\/2023\/02\/02\/minister-zulhas-to-discuss-palm-oil-exports-with-malaysia\/","url_meta":{"origin":22608,"position":1},"title":"Minister Zulhas To Discuss Palm Oil Exports With Malaysia","author":"admin","date":"February 2, 2023","format":false,"excerpt":"JAKARTA \u2013 Trade Minister Zulkifli Hasan (Zulhas) will meet Malaysia\u2019s Industry and Plantation Commodities Minister early next month to discuss the problems of palm oil exports to Europe. \u201cI\u2019ll come there. Previously, we\u2019ve been scheduled to meet. But we missed the scheduled time. At that time I have to meet\u2026","rel":"","context":"In "Publication"","block_context":{"text":"Publication","link":"https:\/\/gapki.id\/en\/news\/category\/publication\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2023\/02\/zulhas_menteri_ladang_detik.net_.id_-1.png?fit=913%2C563&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2023\/02\/zulhas_menteri_ladang_detik.net_.id_-1.png?fit=913%2C563&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2023\/02\/zulhas_menteri_ladang_detik.net_.id_-1.png?fit=913%2C563&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2023\/02\/zulhas_menteri_ladang_detik.net_.id_-1.png?fit=913%2C563&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":22393,"url":"https:\/\/gapki.id\/en\/news\/2022\/11\/30\/ri-china-sign-deal-to-raise-palm-oil-exports-next-year\/","url_meta":{"origin":22608,"position":2},"title":"RI-China Sign Deal To Raise Palm Oil Exports Next Year","author":"admin","date":"November 30, 2022","format":false,"excerpt":"JAKARTA \u2013 Indonesia will realize the plan on its additional exports of one million tons of crude palm oil (CPO) and derivative products to China next year. To realize the plan, the China Chamber of Commerce for Import and Export for Foodstuffs, Native Produce & Animal By-Products (CFNA) signed on\u2026","rel":"","context":"In "Publication"","block_context":{"text":"Publication","link":"https:\/\/gapki.id\/en\/news\/category\/publication\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2022\/12\/ekspor_palmoil_medcom.id_.png?fit=829%2C504&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2022\/12\/ekspor_palmoil_medcom.id_.png?fit=829%2C504&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2022\/12\/ekspor_palmoil_medcom.id_.png?fit=829%2C504&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2022\/12\/ekspor_palmoil_medcom.id_.png?fit=829%2C504&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":27051,"url":"https:\/\/gapki.id\/en\/news\/2023\/10\/03\/government-asked-not-to-intervene-regarding-indonesias-cpo-exchange\/","url_meta":{"origin":22608,"position":3},"title":"Government Asked Not to Intervene Regarding Indonesia’s CPO Exchange","author":"admin","date":"October 3, 2023","format":false,"excerpt":"JAKARTA - Director of Segara Research Institute Piter Abdullah Redjalam assesses that the establishment of a crude palm oil (CPO) exchange in Indonesia is not easy. Minimal intervention is one of the requirements for the exchange to be recognized in the global market. The government through the Ministry of Trade,\u2026","rel":"","context":"In "Publication"","block_context":{"text":"Publication","link":"https:\/\/gapki.id\/en\/news\/category\/publication\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2023\/12\/palmoil_kilang_minyak_cpo_bisnis.com_.jpg?fit=947%2C533&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2023\/12\/palmoil_kilang_minyak_cpo_bisnis.com_.jpg?fit=947%2C533&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2023\/12\/palmoil_kilang_minyak_cpo_bisnis.com_.jpg?fit=947%2C533&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2023\/12\/palmoil_kilang_minyak_cpo_bisnis.com_.jpg?fit=947%2C533&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":22815,"url":"https:\/\/gapki.id\/en\/news\/2023\/03\/10\/govt-to-oblige-cpo-export-through-futures-market\/","url_meta":{"origin":22608,"position":4},"title":"Govt To Oblige CPO Export Through Futures Market","author":"admin","date":"March 10, 2023","format":false,"excerpt":"JAKARTA \u2013 Indonesia, the world's biggest palm oil exporter, plans to require crude palm oil exports to go through a futures exchange in order to create the country's own benchmark price, the head of its commodity futures regulator said. The trade ministry\u2019s Commodity Futures Exchange Supervisory Board (BAPPEBTI) Chairman Didid\u2026","rel":"","context":"In "Publication"","block_context":{"text":"Publication","link":"https:\/\/gapki.id\/en\/news\/category\/publication\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2023\/06\/cropped-abstract-blue-sky-background-with-tiny-clouds-free-photo-scaled-1.jpg?fit=1200%2C239&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2023\/06\/cropped-abstract-blue-sky-background-with-tiny-clouds-free-photo-scaled-1.jpg?fit=1200%2C239&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2023\/06\/cropped-abstract-blue-sky-background-with-tiny-clouds-free-photo-scaled-1.jpg?fit=1200%2C239&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2023\/06\/cropped-abstract-blue-sky-background-with-tiny-clouds-free-photo-scaled-1.jpg?fit=1200%2C239&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2023\/06\/cropped-abstract-blue-sky-background-with-tiny-clouds-free-photo-scaled-1.jpg?fit=1200%2C239&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":26357,"url":"https:\/\/gapki.id\/en\/news\/2023\/08\/04\/zulhas-eu-rejects-palm-oil-and-coffee-but-imports-coal\/","url_meta":{"origin":22608,"position":5},"title":"Zulhas: EU Rejects Palm Oil And Coffee But Imports Coal","author":"admin","date":"August 4, 2023","format":false,"excerpt":"Jakarta - Trade Minister Zulkifli Hasan (Zulhas) has criticized the European Union (EU) for being not consistent with its policies to protect environment and tackle the climate change problems under the framework of European Green Deal (EGD). Zulhas said\u00a0 the EU has rejected the palm oil and coffee as they\u2026","rel":"","context":"In "Publication"","block_context":{"text":"Publication","link":"https:\/\/gapki.id\/en\/news\/category\/publication\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/gapki.id\/dir-site\/uploads\/2023\/08\/palmoil_nyt.com_oilpalm.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/gapki.id\/dir-site\/uploads\/2023\/08\/palmoil_nyt.com_oilpalm.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/gapki.id\/dir-site\/uploads\/2023\/08\/palmoil_nyt.com_oilpalm.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/gapki.id\/dir-site\/uploads\/2023\/08\/palmoil_nyt.com_oilpalm.png?resize=700%2C400&ssl=1 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/gapki.id\/en\/dir-site\/uploads\/2023\/01\/palmoil_oilpalm_theedgemarkets.com_.png?fit=996%2C584&ssl=1","_links":{"self":[{"href":"https:\/\/gapki.id\/en\/wp-json\/wp\/v2\/posts\/22608","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gapki.id\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gapki.id\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gapki.id\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gapki.id\/en\/wp-json\/wp\/v2\/comments?post=22608"}],"version-history":[{"count":0,"href":"https:\/\/gapki.id\/en\/wp-json\/wp\/v2\/posts\/22608\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gapki.id\/en\/wp-json\/wp\/v2\/media\/22609"}],"wp:attachment":[{"href":"https:\/\/gapki.id\/en\/wp-json\/wp\/v2\/media?parent=22608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gapki.id\/en\/wp-json\/wp\/v2\/categories?post=22608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gapki.id\/en\/wp-json\/wp\/v2\/tags?post=22608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}