Production Slows, Malaysia CPO Price has Potential to be Stronger

By : Abraham Sihombing And Aldo Bella Putra | Wednesday, September 27 2017 - 22:00 IWST

INDUSTRY.co.id - Jakarta - Malaysian crude palm oil (CPO) prices rebounded to 2,739 ringgit a ton. That is caused by market players' concerns about the slowdown of CPO production in the neighboring country of Indonesia.

Production data published by Southern Oil Millers Association (SOMA) indicates a 0.8% decline in Malaysian CPO production over the period September 1-15, 2017.

"In addition, the performance of crude oil prices in the world market, the strengthening of soybean oil prices and the depreciation of the ringgit exchange rate against the US dollar also helped boost CPO price," said an analyst at PT Monex Investindo Futures, in Jakarta, Wednesday (27/09/2017) .

The analyst explains, Malaysian CPO price technically still has a chance to strengthen to reach its resistance point at 2,800 ringgit per ton. That's because the decline in CPO prices some time ago failed to penetrate to the support level at the level of 2680 per ton.

Meanwhile, according to the analyst, Indonesia's Ministry of Trade will maintain CPO export tax at zero percent for October 2017. The CPO export tax of zero percent has been in effect for six consecutive months. (Abraham Sihombing)

News Comment

Today's Industry

Industrial Area Ilustration

Rabu, 28 Oktober 2020 - 08:40 WIB

CFLD Develop a Strategic Industrial Area which is Supported by Seven New Infrastructures

Segye ASEAN Forum 2020 which is a series of Indonesian and Korean Manufacturing Industry Partnership forum events held, was attended virtually by more than 500 executives from well-known manufacturing…

Hilton – Asia Pacific (Photo by Hilton Asia Pacific - Posts | Facebook)

Selasa, 27 Oktober 2020 - 15:40 WIB

Waldorf Astoria to Debut in Japan with Milestone Signing In Tokyo

Set to open in 2026, Waldorf Astoria Tokyo Nihonbashi to Offer Timeless Luxury and Unrivaled Service in Japan’s Cultural Capital.

Illustration of Fintech Application

Senin, 26 Oktober 2020 - 18:55 WIB

Need for Funds Increased due to Pandemic? This is the Solution!

AdaKami is a peer-to-peer (P2P) lending operator in Indonesia that provides loan facilities (credit) without collateral through an online application.

Ian Hall - Asia-Pacific Client Services Manager, at Synopsys Software Integrity Group

Senin, 26 Oktober 2020 - 11:00 WIB

4 Steps for CISOs to Improve Their Organisation’s Application Security Program

Synopsys recently published its annual BSIMM report, created to help organisations plan, execute, measure, and improve their software security initiatives

Friedhelm Best - Vice President Asia Pacific, HIMA (Photo by HIMA)

Jumat, 23 Oktober 2020 - 14:30 WIB

Farm & Food 4.0: How Technology Is Transforming an Industry

Digitization has affected different industries, and especially now, the food and farming industries as well.