MARKET DEVELOPMENT
Astra Agro Fails to Sell 10,500 Tons of Palm Oil in Auction
Astra Agro Fails to Sell 10,500 Tons of Palm Oil in Auction
15/08/2011 (Bloomberg) - PT Astra Agro Lestari, Indonesia’s biggest listed plantation company by market value, said it withdrew 10,500 metric tons of crude palm oil in an auction in Jakarta today.
The company offered the edible oil at 8,000 rupiah a kilogram ($935 a ton) to 8,315 rupiah, Astra Agro said in a faxed statement. It sold 10,500 tons of palm oil at 7,925 rupiah to 8,226 rupiah a kilogram yesterday.
Indonesia is the largest producer of the commodity.