Afternoon Coffee: Indonesia to Ban New Palm Oil Extraction, US Experiences Significant Drop in Oil and Gas Mining in March

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Indonesia will begin banning new palm oil and mining operations later this year in an effort to protect the country’s tropical forests. The temporary ban would last for an undetermined time, a spokesperson for Indonesian President Joko Widodo said, and prevent the country from issuing new permits on palm oil and mining projects.

U.S. industrial production fell 0.6% in March, mostly led by a significant drop in oil and gas mining activity, the Federal Reserve reported today. Mining output in March fell 2.9%, the largest monthly drop since September 2008.

Rio Tinto ditched it plans to expand payment terms for suppliers from 45 days to 90 days. The decision came after the mining company received pushback from the mining industry as well as a request from Australian Resources Minister Josh Frydenberg to reconsider the 90-day pament terms.

The “Amazon effect” is reportedly motivating retailers to improve supply chains and invest in integrated demand planning systems. A new study shows 81% of retail supply chain executives are either using, developing or investing integrated demand planning to better respond to consumer demands for seamless omnichannel shopping experiences.

 

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