Today's olein price is ranged between Rp. 8000,- to Rp. 8025,- per
kilogram.

Indonesian palm oil prices edged lower on Wednesday, unsettled by
government plans for new policies aimed at dampening cooking oil
prices due to be introduced soon. The state marketing centre in
Jakarta did not hole crude palm oil auctions after selling only 1,000
tonnes out of 10,000 tonnes of crude palm oil offered on Tuesday. In
North Sumatra's Medan, crude palm oil was sold at 7,010 rupiah
($0.744)a kilogram, slightly down from 7,100 rupiah a kilogram on
Tuesday.

The Trade Ministry said the government was planning to introduce a 9-
10 percent export tax, up from the current 6.5 percent if global
crude palm oil prices rose above $850 a tonne and it would impose a
zero percent export tax if prices fell below $500 a tonne. Indonesia
is also planning to scrap a 10 percent value-added tax on crude palm
oil sold to cooking processors, Agriculture Minister Anton
Apriyantono said.

The new policies, which are due to be imposed in early September, are
meant to curb rising cooking oil prices in the country which have
soared almost 30 percent this year powered by rising global prices of
crude palm oil. The planned new policies also hit the neighbouring
Malaysian market, where palm oil futures dropped 1.5 percent to 2,375
ringgit ($678) per tonne.

Cooking oil in Jakarta was offered at 8,000 rupiah a kilogram, little
moved from 7,900 rupiah a kilogram on Tuesday. Buyers bid at 7,700
but there were no deals. Cooking oil producers were cautious on the
government's plan to scrap a 10 percent value-added tax on crude palm
oil sold to local processors.

There were no offers at the palm oil export market as players awaited
the government's decision.