PALM NEWS MALAYSIAN PALM OIL BOARD Wednesday, 15 May 2024

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MARKET DEVELOPMENT
Indonesia, Malaysia consider joint marketing to co
calendar10-12-2004 | linkAFX | Share This Post:

08/12/04 JAKARTA (AFX) - Indonesia and Malaysia, the two world's largestcrude palm oil (CPO) producers, are considering a 'common marketingstrategy' to have better control over international prices, a spokespersonfor the presidential palace here said.Visiting Malaysia Deputy Prime Minister Najib Razak and President SusiloBambang Yudhoyono have agreed that the neighbors should cooperate moretightly to stabilize CPO prices, said spokesperson for foreign affairsDino Pati Djalal.'Some thought has been given as to how both sides can cooperate in acommon marketing strategy so that Malaysia and Indonesia can have bettercontrol over the price crude palm oil on the international market,' Djalaltold reporters.He did not provide details, saying both governments will discuss the ideafurther.Indonesia and Malaysia may have better control CPO prices through jointadjustments of their production and inventory levels.