ID :
29529
Tue, 11/11/2008 - 14:08
Auther :
Shortlink :
http://m.oananews.org//node/29529
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GAPKI BLACK LISTS 30 INDIAN FIRMS
Jakarta, Nov 11 (ANTARA) - The Indonesian Crude Palm Oil Business Association (Gapki) has black listed 30 Indian companies for canceling their crude palm oil (CPO) purchase contracts with their Indonesian counterparts, its chairman Akmaluddin Hasibuan said.
"We have included them in the black list," Hasibuan said.
Among the Indian companies which were blacked listed for canceling their CPO purchase contracts with Indonesia included Nafed, JMD Oils and Fats, Bhatinda Oils and Fats, Kundan Oils and Fats, Raj Agro Oils, Gujarat Spices, Puneet and Company, Sarda Agro, Sudhir Agro, NCS Hyderabad , Mahesh Agro, Golden Oils Kolkata, Coastal Energy, Pradyhuman Overseas, Sara International, Dudhadhari Exports, DDI (Tower International), Budge Budge Refineries, Indumati Refineries, Shree Ganesh Oils, Velani Traders and Sheetal Industries.
Hasibuan said that the cancellation of the contracts had caused damage to the market and further drove down the price of CPO.
In the contracts, the price of CPO per ton was US$800. But the Indian firms asked that the price was lowered.
Hasibuan said he had written letters to the Indian crude palm oil association about the cancellation of the purchase contracts but he did not receive any response.
"With the contract cancellation, the price fall further to US$500 per ton," he said.
"We have included them in the black list," Hasibuan said.
Among the Indian companies which were blacked listed for canceling their CPO purchase contracts with Indonesia included Nafed, JMD Oils and Fats, Bhatinda Oils and Fats, Kundan Oils and Fats, Raj Agro Oils, Gujarat Spices, Puneet and Company, Sarda Agro, Sudhir Agro, NCS Hyderabad , Mahesh Agro, Golden Oils Kolkata, Coastal Energy, Pradyhuman Overseas, Sara International, Dudhadhari Exports, DDI (Tower International), Budge Budge Refineries, Indumati Refineries, Shree Ganesh Oils, Velani Traders and Sheetal Industries.
Hasibuan said that the cancellation of the contracts had caused damage to the market and further drove down the price of CPO.
In the contracts, the price of CPO per ton was US$800. But the Indian firms asked that the price was lowered.
Hasibuan said he had written letters to the Indian crude palm oil association about the cancellation of the purchase contracts but he did not receive any response.
"With the contract cancellation, the price fall further to US$500 per ton," he said.
