Indonesian authorities plan to challenge the duties and will coordinate their response with the companies and the Indonesian biodiesel association, a senior Indonesian trade official told Reuters. "The companies are now working to rebut the proposed calculations of the EU for which the deadline is this Friday," said Pradnyawati, director of trade security at Indonesia's Trade Ministry.
KUALA LUMPUR: Malaysian palm oil futures opened lower on Thursday morning, falling to its lowest in nearly seven weeks. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was last down 1.1 percent at 2,073 ringgit ($501.33) a tonne.
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