Watch out! Palm Oil Plantations in Indonesia Slowly Mastered by Malaysia

The Business Competition Supervisory Commission or KPPU is worried about the condition of oil palm plantation companies whose ownership is getting smaller. This was marked by the acquisition of oil palm plantation companies during the pandemic, which reached 10 acquisitions. "But of that number, five were made by Malaysian-owned companies to Indonesian companies.

Then there was one Malaysian company that acquired a fellow Malaysian company. So there were six acquisitions made by Malaysian companies," said KPPU Commissioner, Ukay Karyadi in a live IDX Channel in Jakarta. He said this was risky because of the control of oil palm plantation companies by Malaysia. Meanwhile, there are no additional local oil palm plantation companies. The impact can suppress the supply of raw materials for cooking oil companies so that their products become scarce in the market. "The scarcity of this product which is used by speculators plays a role in the price," he said. He continued, explaining that his party had conducted research and suggested that the Government revoke regulations that create entry barriers for new business actors in the cooking oil industry, including local and small-medium scale businesses.

|•SOURCE•| Articles :SINDO | Image :REPUBLIKA |

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