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First Day of Palm Oil Export Ban, 10 Palm Oil Stocks Weaken

Viva Budy Kusnandar 29/04/2022 13:10 WIB

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On April 28, 2022, trading saw 10 palm oil company stocks close down. Meanwhile, 7 palm oil company stocks were stagnant, and another 7 saw price increases.

10 Palm Oil Stocks That Weakened on the First Day of the Export Ban (April 28, 2022)

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First Day of Palm Oil Export Ban, 10 Palm Oil Stocks Weaken

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10 Palm Oil Stocks That Weakened on the First Day of the Export Ban (April 28, 2022)

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The export ban on cooking oil and its raw materials became effective on April 28, 2022, at 00.00 WIB.

This ban has been met with varied responses from palm oil stock investors.

On April 28, 2022, 10 palm oil issuer stocks closed with decreased prices. Meanwhile, 7 palm oil issuer stocks remained stagnant, and 7 others experienced an increase.

Here is a list of the 10 palm oil issuer stocks that recorded price decreases on April 28, 2022:

* Astra Agro (AALI) -2.91% to Rp12,500
* Pradiksi Gunatama (PGUN) -2.80% to Rp695
* Jaya Agra Wattie (JAWA) -2.42% to Rp161
* Dharma Satya N (DSNG) -2.42% to Rp605
* Gozco Plant (GZCO) -2.06% to Rp190
* Austindo Nusantara (ANJT) -2.04% to Rp960
* Sawit Sumbermas (SSMS) -1.84% to Rp1,065
* London Sumatera (LSIP) -1.78% to Rp1,380
* Palma Serasih (PSGO) -1.62% to Rp182
* Tuna Baru (TBLA) -0.63% to Rp795

Previously, the government issued Minister of Trade Regulation Number 22 of 2022 concerning the Temporary Prohibition of Exports of Crude Palm Oil, Refined, Bleached and Deodorized Palm Oil, Refined, Bleached and Deodorized Palm Olein, and Used Cooking Oil.

In this regulation, the government temporarily prohibits the export of cooking oil and various palm oil derivative products that serve as its raw materials.

"This Ministerial Regulation comes into effect on April 28, 2022," as stated in the regulation signed by Minister of Trade Muhammad Lutfi on April 27, 2022.

This temporary export ban applies to all Indonesian customs areas, including free trade zones and free ports (KPBPB), namely Batam, Bintan, Karimun, and Sabang.

"However, exporters who have obtained an export customs notification registration number no later than April 27, 2022, can still carry out exports," said Muhammad Lutfi, as reported by the Setkab.go.id portal on Friday (29/4/2022).

The government prohibits the export of cooking oil and its raw materials until an undetermined date.

The export ban will continue until the price of bulk cooking oil falls to the government-set Highest Retail Price (HET) of Rp14,000 per liter.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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First Day of Palm Oil Export Ban, 10 Palm Oil Stocks Weaken

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