Mentan to refer 300 palm oil firms to police over TBS prices
The government is monitoring 1,900 companies as TBS prices recover only 70% to around Rp3,200-Rp3,600 per kg.
Minister of Agriculture Andi Amran Sulaiman will refer about 270-300 palm oil companies to the police for failing to raise fresh fruit bunch, or TBS, prices in line with regulations. He announced the move after a coordination meeting on stabilizing TBS prices at the Ministry of Agriculture in Jakarta on Monday (8/6). Out of about 1,900 companies under review, the government said the earlier decline in TBS prices hurt farmers even as global crude palm oil, or CPO, prices rose. Amran said the price recovery has reached only 70%, with TBS ranging from Rp3,200 to Rp3,600 per kilogram depending on the region, and he called for prices to again follow provincial regulations in each area. The National Police Food Task Force, through Ade Safri Simanjuntak, is also investigating suspected cartel activity or price collusion.
Sources
Earlier in this story
- Jun 8Kementan reports 300 palm oil firms over fresh fruit bunch prices
- Jun 8Polri and KPPU probe alleged palm oil fruit price cartel
- Jun 8Mentan seeks recovery in palm fruit prices, 300 firms reviewed
- Jun 8Mentan to refer 300 palm oil firms to police over TBS pricesreading now