09 Oct 2008

Indonesia state marketing centre fails to sell palm oil

The Indonesian state marketing centre said it did not sell 6,500 tonnes of crude palm oil it offered at an auction on Wednesday due to low bids.

The centre offered 1,500 tonnes of crude palm oil, ex-factory Medan, and 3,000 tonnes, free on board Belawan port, both in North Sumatra province at 5,034 rupiah per kg.

It also offered 1,000 tonnes, free on board Dumai port in Riau province at 5,034 rupiah a kg and 1,000 tonnes of palm oil, free on board Palembang, South Sumatra, at 4,859 rupiah per kg.

"None of bidders were willing to pay at our offered prices," said an official at the centre.

For details click on http://www.kpbptpn.co.id ($1 = 9,595 rupiah)

Source : Thomposon Reuters'

Wednesday, 08 October 2008