- Reuters•3 months ago
Indonesia will investigate palm oil companies that are signatories to the Indonesian Palm Oil Pledge (IPOP) for potential anti-competitive practices, the country's anti-monopoly agency (KPPU) said. "The IPOP agreement has the potential to become the means of a cartel that will give rise to monopoly practices and or unhealthy business competition," KPPU spokesman Dendy Sutrisno said in a statement issued late on Wednesday.
- Reuters•2 years ago
A slump in the number of Indonesian workers applying for jobs in Malaysia's palm oil sector is worsening a labour crunch that industry players say is taking a heavy toll on the export earnings of the world's second-largest grower of the edible oil. The two countries account for about 85 percent of the global output of palm oil - used in foods ranging from margarines and biscuits to instant noodles - and Indonesia's booming economy also poses a longer-term threat to its own palm oil output as urbanisation drains rural workers. Malaysia has long relied on plantation workers from neighbouring Indonesia to harvest fresh fruit bunches from oil palm trees that can grow up to 20 metres (66 feet) tall - jobs that are proving hard to replace with mechanisation.
SMART TBK IDR200Jakarta
|52wk Range||2,995.00 - 5,000.00|
|Day's Range||3,600.00 - 3,700.00|
|Avg Vol (3m)||1,735|
As of 5:00 AM EDT. Market closed.