"They can no longer ask for concessions for palm oil [or] mining," Widodo told reporters on Thursday, when asked about the moratorium plans. Widodo said he had spoken to government ministers regarding the plan but stopped short of providing a timeline for the move.
PETALING JAYA: Crude palm oil prices (CPO) are closing in on multi-year highs after preliminary findings indicate a supply crunch which could see the lowest monthly palm oil inventory in more than four years.
The accelerating depletion in palm oil stocks was due to rising export demand as well as lingering effects from the El Nino weather phenomenon.
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