Joining Two International Medias, the KPBN Hopes That Indonesia Will Be Able to Colorize World Palm Oil Prices

"KPBN, which has organized the CPO exchange for palm oil industrial players in Indonesia since 1968, is determined to make Indonesia contribute to the dynamics of CPO price formation in the global market and become the price reference for palm oil commodities in Indonesia and the world. The next program is to make Indonesia contribute to the dynamics of CPO price formation in the world through commodity exchange in KPBN, it is our determination and initiative," said Rahmanto Amin.

The KPBN Director explained that the initial step to realize this aspiration was started by the collaboration carried out by KPBN with two giant international media companies, Reuters and Bloomberg. This collaboration is also a strategic effort by KPBN to introduce itself internationally, realizing Indonesia as a price reference for palm oil commodities.

According to him, as the largest producer of palm oil, Indonesia is still far from optimal in playing a role in this industry. Currently, global palm oil industry players still refer to the benchmark price (price reference) to the two major exchanges in the world, namely the MDEX in Malaysia and Rotterdam in the Netherlands. However, palm oil (CPO) is one of the mainstay commodities that generate foreign exchange and are important for Indonesia.

“One of the benefits of this collaboration is that the price formed from the KPBN Commodity Exchange will appear on the terminal system platform from Bloomberg or Reuters (Refinitive) and will be juxtaposed with information from other major global exchanges, so that it can be accessed by interested parties. not only in Indonesia but also worldwide," explained Rahmanto.

Holding Perkebunan Nusantara as the parent company of PT KPBN supports the initiative of the KPBN cooperation program with Reuters and Bloomberg. "As Holding Perkebunan Nusantara, we fully support KPBN's efforts as the price reference for palm oil commodities in Indonesia. We hope that the collaboration with Reuters and Bloomberg will have a positive impact, so that the palm oil industry business climate in Indonesia will be stronger in supporting the economy," concluded Mohammad Abdul Ghani, President Director of Holding Perkebunan Nusantara PTPN III (Persero) separately.

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