13 May 2022

​The export ban on crude palm oil (CPO) and its derivative products is recognized as having a dominant influence on the business of PT Mahkota Group Tbk (MGRO).

For your information, the government has issued Ministry of Trade Regulation (Permendag) No. 22 of 2022 as a regulation related to the export ban on CPO and its derivatives which took effect on April 28. ​

The ban is intended to keep the availability of cooking oil raw materials safe and affordable.

Elvi, Corporate Secretary of Mahkota Group, said that her party hopes that the export ban can be removed immediately so that competitiveness and business activities can run smoothly again.

“For now we are not making export sales contracts while waiting for further decisions from the government,” he said, Thursday (12/5).

In Kontan.co.id records, Mahkota Group has exported since mid-2020 through Refined Bleached Deodorized Palm Oil (RBDPO) products to Malaysia.

Elvi added, so far Mahkota Group has also sold products to the domestic market and will continue to increase the volume in accordance with existing market demand.

In addition, downstream palm oil products will also continue to be developed by the company.

In previous news, Mahkota Group plans to increase the capacity of refinery line-1 and add refinery line-2. Then, there is the development of hard stearin, margarine, oil packing, and shortening products, the addition of stockpile tanks, increasing the capacity of the kernel crushing plant (KCP) and solvent extraction plant, investing in biogas business, adding turbines, boilers, and bunch presses, processing fertilizers, to developing oleochemical products.

Source : industri.kontan.co.id