Tuesday, June 23, 2009

Indonesia deserves to be the CPO price preferences

Crude Palm Oil

So far the CPO world market still refers to Roterdam market, and basis of the CPO price of the world market still measure in Kuala Lumpur (MDEX). In fact, as the second largest exporter of crude palm oil (CPO) of the world, Indonesia deserves to be the world benchmark price of CPO.

That said of the Minister of Trade Mari Elka Pangestu in Jakarta on Tuesday (23 / 6). "The use of benchmark reference price of CPO is not necessarily benefit to businessman or exporter from Indonesia. As a main manufacturer and exporter of CPO in the world, Indonesia has a chance become a reference state the price of CPO in the international community," said Mari.

Currently, in the international market, Indonesia is the second largest country, with 29.29 percent of the total world export of CPO. In addition, since 2006 Indonesia as the biggest CPO producer in the world. In the year 2008, the CPO production reached 19.3 tonnes or 44.8 percent of total world production. In the year 2008, the CPO export volume and derivate reached 14.29 tons with a value of 12.37 billion U.S. dollars, or to reach 11.47 percent of the total export nonmigas Indonesia.

Indonesia dream that can become a world reference price of CPO can be realized quite likely, said Mari Pangestu, due to Indonesia has a online market phisical organized in Bursa Berjangka Jakarta (BBJ). The perpetrators of both the business and the buyer can perform transactions more effectively. "Besides the market price established, also in the market price of CPO will be a national integrated and become a reference for CPO in the international market," said Mari Pangestu.