MPOB Palmnews
 
Date
 08/08/2003
News Provider
 Mahamad Rodzi Abdul Ghani
News Source
 Reuters
Headline
 Indonesian firm buys CPO for Russian barter

JAKARTA (August 06 2003) : Indonesian state logistics firm Bulog said onTuesday it had agreed to buy crude palm oil (CPO) at $360 per tonne from alocal firm for August shipment to Russia as part of a barter deal.

Bulog said it has appointed PT Multi Mas Nabati Asahan to export 10,000tonnes of CPO and 28,000 tonnes of RBD palm olein priced at $412.5 pertonne to Russia by the end of the month.

"The total value of the deal is $15.15 million," the chief of countertrade at Bulog, Johan Santosa, told reporters.

Bulog has said it plans to buy CPO worth $15 million through a tender tohelp meet the counter-trade deal worth $187 million, in which Indonesiawill obtain four Russian Sukhoi jets and two Mi-35 helicopters in returnfor 30 different types of commodities.

Nine exporters had been invited to participate in the tender.-Reuters