| Indonesia cautions world crude oil price hike |
JAKARTA, Sept. 22 (Xinhua) -- Indonesian Trade Minister Mari Elka Pangestu has said she would monitor the world crude oil price hike reaching 82 U.S. dollars per barrel as it would have a wide-ranging impact on export commodities and basic necessaries, the Antara news agency reported on Saturday.
"What is more important to caution is about its impact on the world economic growth which may also affect the demand for our export commodities," the minister said on Friday, quoted by the agency.
A motorist pumps petrol in Putrajaya outside Kuala Lumpur Sept. 21, 2007. Oil prices fell towards $81 a barrel on Friday, as sellers emerged after a record above $84 the previous day when a tropical depression forced the shutdown of Gulf of Mexico output ahead of peak winter fuel demand.
A change in the price of world crude oil would have an impact on the prices of other commodities like crude palm oil (CPO) and wheat, she said.
Besides, it is predicted that a world crude oil hike will trigger other countries to increase their biofuel production incentives.
However, the trade minister said last year's world crude oil hike was worse, compared with the current 82 U.S. dollars per barrel.
Mari said she will monitor the fluctuating world crude oil price as it has a vast impact.
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