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View all search resultsUS President Joe Biden and Japanese Prime Minister Fumio Kishida held "very productive" talks last week on semiconductor-related export controls on China, White House Indo-Pacific coordinator Kurt Campbell said on Tuesday.
Commodities Minister Fadillah Yusof said Malaysia and Indonesia would discuss the law, which bans sale of palm oil and other commodities linked to deforestation unless importers can show that production of their specific goods has not damaged forests.
The Attorney General Office (AGO) in April launched an investigation into allegations of corruption linked to the issuance of export permits at a time when shipments were restricted by the government to control soaring cooking oil prices.
Experts and businesses warn that local downstream industries were unprepared for the government’s plan to ban bauxite exports starting in June 2023, stressing that forcing such a measure may backfire against the country’s mission to support local added-value manufacturing.
The government’s antimarket domestic market obligation (DMO) and low ceiling prices of cooking oil in time of skyrocketing international prices sent the wrong signals to the market, which resulted in producers holding their stock to avoid losses, causing scarcity and prices rising far beyond the ceiling prices.
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