Trading On The CPO Exchange Starts Running October 23, 2023

Head of the Commodity Futures Trading Supervisory Agency (CoFTRA), Didodiatmoko. (Photo: Mery Handayani/VOI)

Head of the Commodity Futures Trading Supervisory Agency (CoFTRA), Didodiatmoko, said that trading through the crude palm oil or CPO exchange will start trading on October 23.

As is known, Indonesia officially launched the crude palm oil (CPO) market this morning.

With this stock exchange, CPO entrepreneurs no longer depend on the reference prices from Malaysia and the Netherlands, Rotterdam.

"We are targeting that on October 23, the CPO exchange can live. This means that CPO trading has been running through the stock exchange effectively," he said at the inauguration ceremony of the CPO Exchange, at the Mulia Hotel, Jakarta, Friday, October 13.

Furthermore, Didid explained that starting October 23, 2023, price disclosures could also begin to be formed. It is targeted that the CPO reference price for export activities will be formed in early 2024.

"Since October 23, we have started forming a price disclosure. And with this hard effort to increase the credibility of the stock exchange, we hope that in the first quarter of 2024 we will be able to realize price reference," said Didid.

Furthermore, Didid also said that before trading was carried out through the CPO Exchange, Indonesia Commodity and Dervative Exchanges (ICDX) as the organizers would conduct socialization and training to prospective exchange members.

The socialization and training to this company will be carried out starting October 16, 2023.

In addition, Didid also explained that the government does not require all palm oil entrepreneurs to make transactions, especially exports through the CPO Exchange. However, he said, currently there are 18 business actors registered on the CPO exchange.

"Currently, 18 CPO business actors have joined, which are ready to trade through the ICDX exchange," he said.