Indonesia investigates export-import price manipulation in CPO industry
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- The Attorney General’s Office is investigating alleged manipulation of export-import values involving several companies, following data and findings submitted by the Finance Ministry.
- Preliminary checks on crude palm oil shipments reveal significant discrepancies between reported export prices in Indonesia and recorded import values in the United States.
- Authorities plan to expand the probe by tracking shipments one by one and examining possible transfer pricing practices that may have reduced state revenue.
Jakarta – The Attorney General’s Office (AGO) has launched an investigation into alleged manipulation of export-import trade documents, commonly known as trade misinvoicing, involving several companies.
The suspected irregularities were initially brought to light by Finance Minister Purbaya Yudhi Sadewa during a limited cabinet meeting with President Prabowo Subianto on May 21.
“We are currently investigating cases involving manipulation or transfer pricing. The probe began around a month ago, and the data provided by the Finance Ministry complements the evidence we already have,” said Syarief Sulaeman Nahdi, Director of Investigations at the AGO’s Special Crimes Unit (Jampidsus), at the AGO complex in Jakarta on Monday.
He added that several individuals have been questioned as witnesses in connection with the case.
However, Syarief declined to provide further details about the ongoing investigation. “We will share more information at a later stage. For now, that is all,” he stated.
Earlier, Finance Minister Purbaya revealed that his ministry had conducted random checks on three shipments involving 10 companies operating in the crude palm oil (CPO) industry.
According to him, there were clear indications that some of these companies manipulated export prices, particularly in shipments to the United States.
“It is evident that they manipulated export prices to the US,” Purbaya said.
Although he did not disclose the names of the companies involved, Purbaya provided examples of discrepancies found in trade invoices.
In one case, a company reported export values of US$2.6 million, while the corresponding import value recorded in the United States reached US$4.2 million.
“That is more than 57 percent lower. In another case, it is even more extreme—an export value of US$1.43 million here, but recorded at over US$4 million on the importing side. That is a 200 percent difference. We plan to track this shipment by shipment,” he explained.
Indonesianpost.com | Antara
