VIVAnews - The Indonesian and Malaysian government are trying to set up cartel in oil palm industry.
"We must be able to arrange the price because these two countries posses the world's largest oil palm plantation," said Head of the Malaysian Chamber of Commerce, Halim Kalla, after a visit from the Malaysian trading board in Jakarta on Thursday, April 23.
Therefore, it is important to prevent European or other countries to set the pricing. Halim explained that price fluctuation depends on demand and world oil price. "If the oil price is down, demand will also decrease,"
he said.
In addition, the bilateral meeting resulted in an agreement to
develop crude palm oil (CPO)-based biodiesel industry. "The CPO price
rise was caused by high demand on biodiesel," he explained.
Biodiesel industry will maintain the supply if the global demand
decreases due to world crisis. "The Industry makes the supply, which was supposed to be distributed out, to be absorbed by the domestic industry," he added.
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Translated by: Ariyantri E. Tarman
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