News Forum - Indonesia and Malaysia agree not to compete over palm oil prices

[Thaiger]

After a meeting yesterday, Malaysian and Indonesian officials agreed that their countries would not compete over palm oil prices. Malaysia’s Prime Minister announced the agreement with Indonesia’s president after their meeting. He said that he and the Indonesian president will determine the price together. The two countries account for roughly 85% of the world’s palm oil production. Indonesia is struggling to control cooking oil prices at home as producers refer to global prices in their production costs. The Russia-Ukraine crisis has impacted the supply of vegetable oil in Indonesia, making palm oil more expensive. Now, cooking oil ‘mafias’ have formed […]

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[Fanta]

So they have announced a cartel and agreed to fix prices. Amazing Asia. 

[Ramanathan.P]

Thaiger....are you still in hibernation. The picture you publish in the report is not the current PM. It is the ex-PM...

[Ramanathan.P]

Ha..ha...haa....you changed the picture.....Thaiger