Robusta coffee is down 41 percent from its US$2,815 a ton peak on March 6. Vietnam is the world’s largest grower of robusta coffee.

Palm oil, used for cooking and as an alternative fuel, plunged 69 percent from its record 4,486 ringgit ($1,253) a ton on March 4 as crude oil slumped and on concern the world was heading toward recession, which would reduce demand for raw materials.

Malaysia is the world’s second-biggest producer of palm oil.

Apriyantono met counterparts from members of Association of Southeast Asian Nations (ASEAN) in Hanoi last week. He invited Malaysian Plantation Industries and Commodities Minister Peter Chin Fah Kui to Jakarta “to solve the problems of palm oil and rubber,” he said.

Indonesia and Malaysia are promoting biofuel use to support palm oil prices.

Source: Bloomberg