May 26, 2022 7:01 AM
R.E.A. Holdings plc (RE.)
R.E.A. Holdings plc ("REA" or the "company")
Further re selling prices
Following the company’s announcement in March 2022 regarding selling prices for crude palm oil (“CPO”) and crude palm kernel oil (“CPKO”), the Indonesian government introduced a temporary ban on exports of CPO with effect from 28 April 2022. The ban has now been lifted with effect from 23 May 2022, although some restrictions on CPO exports remain in place with the re-introduction of a domestic market obligation designed to procure that CPO is sold in the local market in sufficient volumes and on a price basis that supports the local availability of cooking oil at an affordable price. Subject to demonstrating compliance with the domestic market obligation, CPO producers and traders may apply for permits to export CPO and CPO products, although the precise arrangements for the issue of permits are still to be clarified.
REA sells CPO to Indonesian refineries under long term sales contracts that are not affected by export restrictions, but the prices achieved are based on prevailing domestic market prices for CPO which may be affected by the restrictions on exports.
R.E.A Holdings plc
Tel: 020 7436 7877
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