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Export Ratio: Is Not Substituted Yet

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Export Ratio: Is Not Substituted Yet

InfoSAWIT, JAKARTA – Ministry of Trade keeps studying the possible substitution about export ratio in the domestic market obligation for crude palm oil (CPO). Until now the terms and conditions in CPO DMO to secure and supply palm cooking oil needs in this country still apply the same regulation.

General Director of Internal Trade Ministry of Trade, Isy Karim confirmed that the export ratio has not been substituted yet. “About export ratio, there is no change at all,” Isy said in the statement, as InfoSAWIT quoted from Bloomberg Technoz, Tuesday (21/5/2024).

Isy Karim also told that the trade authority still studies about the possible change of DMO CPO ratio by considering the progressive dynamic about palm cooking oil material price. The evaluation would be important to confirm that the needs of palm cooking oil in this country would be guaranteed when the price is in fluctuation in the world.

Besides, if the changes on the highest retail price happens and/or CPO DMO distribution schemes change in the form of Minyakita, the export ratio would be re-adjustable. “Ministry of Trade is still studying and evaluating the highest retail price for the people’s palm cooking oil by considering the changing dynamic of palm cooking oil material,” Isy said.

But the changes may happen if there is adjustment on the highest retail price and/or CPO DMO distribution scheme. “It happens if in the form of Minyakita and export ratio would be re-adjusted,” Isy emphasized.

Ministry of Trade would do its best to confirm that every policy to be published would be the same with the market and domestic needs by considering the price dynamic in the globe. (T2)