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State-owned palm oil producer PT Agrinas Palma Nusantara, established just last March through a spin-off from a state-owned construction firm to refocus on the agriculture sector, has unexpectedly restructured its board of directors (BoD) and board of commissioners (BoC). The leadership shake-up comes as the company carries a mandate to manage illegal palm oil plantations seized by the government. The confiscated land, which spans hundreds of thousands of hectares (ha), was taken from companies found to have violated laws such as the Forestry Law, including several prominent palm oil firms also active in downstream production.
The government on Wednesday handed over nearly 400,000 hectares of seized palm oil plantations to Agrinas Palma Nusantara, giving the new state company a sizeable land bank that could make it one of the world's biggest oil palm growers.
Indonesia has the opportunity to wrap up a long-delayed free trade deal with the European Union after the bloc officially placed Indonesia in its “standard-risk” deforestation law category, a step seen by businesses as a signal that could boost exports of palm oil, coffee, cacao and other commodities.
Countries including Brazil and Indonesia, which have historically had among the world's highest rates of deforestation, will be labelled as "standard risk", which means they will face lighter compliance checks on goods exported to Europe.
“This new office is more than just a building. It represents years of hard work under the SMILE program. It will serve as a hub for cooperative activities, a place where we gather, learn and continue to grow together.”
The Attorney General’s Office (AGO) has arrested a social media “buzzer” on suspicion of impeding the investigation into three high-profile corruption cases relating to palm oil and sugar exports, as well as in the tin sector.
