JAKARTA : Indonesia, the world's biggest palm oil exporter, plans to require crude palm oil exports to go through a futures exchange in order to create the country's own benchmark price, the head of its commodity futures regulator said on Thursday.Authorities are developing a trading scheme for crude palm
JAKARTA : Indonesia, the world's biggest palm oil exporter, plans to require crude palm oil exports to go through a futures exchange in order to create the country's own benchmark price, the head of its commodity futures regulator said on Thursday.
"The big strategy is how to require CPO exports to be done through a futures exchange," he told an industry forum. Refined palm products would be allowed to be exported directly, Didid said, but CPO must be procured via an exchange. Industry groups said they backed policies to help Indonesia become a price setter for palm oil, but warned that thorough preparation was needed.
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