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Markets 3 weeks ago
Indonesia's global commodities price-setting ambition risks backfiring
The exchange, scheduled for launch next year, is President Prabowo Subianto's latest initiative to expand state influence over natural resources in a country that is the biggest global supplier of palm oil, nickel and thermal coal and a major source of copper and bauxite.
Editorial 3 months ago
PREMIUM
Gain some, lose more
The idea of centralizing export control for certain natural resources in a single institution is not new, and the failed experiment of such an agency for cloves serves as a case study on why not to pursue that course again, especially for major commodities like coal, CPO and ferroalloys.
Politics 6 months ago
PREMIUM
Wilmar executive, lawyers found guilty in $4 million palm oil bribery case
The Jakarta Corruption Court has found a former executive and two lawyers linked to palm oil giant Wilmar Group guilty of bribing judges to clear three palm oil companies in a high-profile corruption case involving crude palm oil (CPO) export permits.
Politics 1 year ago
PREMIUM
Wilmar’s legal officer named suspect in palm oil bribery case
Wilmar Group legal officer Muhammad Syafei allegedly provided the Rp 60 billion (US$3.56 million) that was later used to bribe the judges and a court clerk in exchange for the acquittal of three companies in a corruption case pertaining to crude palm oil (CPO) exports.
Politics 3 years ago
PREMIUM
AGO grills former trade minister Lutfi in palm oil graft probe
AGO investigators have again questioned the former trade minister in connection with an ongoing graft probe, specifically over the export policies he imposed last year that led to a nationwide cooking oil shortage.
Economy 3 years ago
PREMIUM
Indonesia eyes new markets for coal, palm oil as global recession looms
Coal and crude palm oil are the country’s key export commodities, accounting for 18.77 percent and 12.14 percent of total exports from January to November last year, according to Statistics Indonesia (BPS).
Economy 3 years ago
PREMIUM
Indonesia-China ink $2.6B CPO, fishery trade deals
China have signed a US$2.6 billion worth of commitment to purchase crude palm oil (CPO) and its derivative products from Indonesia, allowing the archipelagic country to secure a trade boost from its number-one trading partner amid global recession.
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