Indonesia to launch crude palm oil futures exchange on October 13

Indonesia, the largest palm oil exporter in the world, will be launching its crude palm oil (CPO) futures exchange on Friday. However, trading via the exchange will not be mandatory. The aim of the exchange is to create a price reference for CPO in Indonesia and to gather data for better industry policies. The Indonesia Commodity and Derivatives Exchange (ICDX) has been appointed as the exchange, with transactions quoted in the rupiah currency. It is expected that there may not be immediate transactions after the launch, as training will be conducted afterwards.