Indonesia, the world’s largest palm oil exporter, said that its rules for establishing its crude palm oil (CPO) trade on a local futures exchange will be out in July.
“It will be ready in early July,” said Zulflki Hasan, Minister of Trade Tuesday. “Indonesia is the biggest palm oil producer in the world, so it should be Indonesia that determines the world’s price for palm oil,” added Hasan.
Indonesia said earlier in May that plans to launch crude palm oil trade (CPO) on a local futures exchange are expected to come to fruition by the end of the year.
The trade minister also said earlier that the exchange would manage the entire…
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