InfoSAWIT, JAKARTA – PT Kharisma Pemasaran Bersama Nusantara (KPBN) has become the main player in crude palm oil (CPO) trade in Indonesia particularly through the tender with PT Perkebunan Nusantara (PTPN) in this country. Though it does not cover every production in PTPN, KPBN confirmed the tender while others would be by direct selling.
Head of Exchange and Business Development of PT Kharisma Pemasaran Bersama (KPBN), Andrial Saputra said KPBN has qualified two main conditions as the exchange. In the price, price discovery and price reference took place in KPBN. Price discovery was proved by tender process in KPBN regularly and each day. there is always transaction.
Price reference for CPO price in KPBN becomes the reference for Ministry of Agriculture through the Regulation of Minister of Agriculture Number 1 / 2018 to decide fresh fruit bunch (FFB) price in each province by using CPO average price in KPBN; and in Ministry of Energy and Mineral Resource (EMR) through the Decision of Minister EMR that made CPO average price in KPBN as the basic to decide biodiesel subsidy.
KPBN was in coordination with the biggest data companies - Reuters and Bloomberg to provide live CPO price data in KPBN in their own terminal platforms.
By having the collaboration, CPO price in KPBN gets more famous for traders globally as CPO price from Indonesia. While the third condition, which is, hedging transaction, is not running well yet. But this is not too difficult. It is just about to multiply forward transaction in KPBN tenders.
He said that KPBN could be potentially to be the exchange within the terms and conditions which are administrative ones. It just needs modal and register to Commodity Future Trading Supervisory Agency to become exchange. (T2)
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