Purbaya Reveals Alleged Manipulation of CPO Exports Through Singapore Intermediary Companies
Finance Minister Purbaya Yudhi Sadewa uncovered alleged manipulation practices in Indonesia's crude palm oil (CPO) exports via intermediary companies in Singapore. Examination results indicated under-invoicing and other export value manipulation schemes.
The modus operandi: products were shipped to Singapore through trading companies affiliated with the exporters, then sold to destination countries at double or more the price. This came to light after the government used AI and more comprehensive trade databases to trace transactions per vessel.
This practice was hard to detect because customs data only recorded Singapore as the destination. Purbaya presented these findings in a limited meeting with President Prabowo Subianto at Merdeka Palace, Jakarta, on Friday (22/5/2026). Source: RMOL.
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