Malaysian CPO Price Probably Increases to 2,720 Ringgit per Ton

By : Abraham Sihombing And Aldo Bella Putra | Wednesday, October 04 2017 - 20:00 IWST

INDUSTRY.co.id - Jakarta - The price of crude palm oil (CPO) in Malaysia Derivatives Exchange traded at 2,703 Malaysian ringgit per ton at 11:12 am on Wednesday (04/10/2017).

"The price of CPO is likely to reach 2,720 ringgit per ton because the price of palm oil is now moving in the range of 2,680-2,720 ringgit per ton," Putu Agus Pransuamitra, an analyst at PT Monex Investindo commodities exchanged in Jakarta, Wednesday (04/10/2017).

Putu said the rise in CPO prices was in line with the emergence of positive sentiment after the World Bank (World Bank) raised the projection of China's economic growth.

"Indeed, the price of CPO since yesterday (Tuesday, 3 October 2017-ed) just rose in the last five trading days. It is also supported by the weakening Malaysian ringgit exchange rate," said Putu.

The World Bank raised its forecast for China's economic growth for the year to 6.7% from 6.5% earlier. In addition, the international institution also raised the growth for 2018 to 6.4% from 6.3%.

China is one of the largest vegetable oil consumers in the world. World Bank projections indicate an increase in economic activity in the country's bamboo curtain.

The condition is expected to increase demand for vegetable oil, including CPO, so that the World Bank step is a positive sentiment for future CPO price movement. (Abraham Sihombing)

News Comment

Today's Industry

Presiden Jokowi bersama masyarakat (Foto Dok Industry.co.id)

Senin, 18 Juni 2018 - 16:30 WIB

Bara JP BPLN English Supports Jokowi in the 2019 Presidential Election

Jakarta - Volunteer Line Jokowi The President of the Foreign Representative Body (Bara JP BPLN) of England supports Joko Widodo as President of RI in the next period.

PLN (Foto/Rizki Meirino)

Senin, 18 Juni 2018 - 16:00 WIB

Normal Electricity Supply and Safe Fuel Distribution In H + 3 Idul Fitri

Jakarta - Entering H + 3 Idul fitri 1439 H, National Coordinating Energy and Mineral Resources (ESDM) Minister ensures the availability of electricity supply, fuel oil and Liquefied Petroleum…

Antisipasi lonjakan bbm

Senin, 18 Juni 2018 - 15:30 WIB

Anticipation of Spike in Fuel Requirement Reverse Flow, Posko ESDM Sector Prepares This

Jakarta - A total of 109 tankers, 32 dispensers, 17 Kiosk Pertamax, 13 Serambi Pertamax and 200 packaging motorcycles, are again alerted by PT Pertamina (Persero) along the Idul fitri 1439 H…

Komjen Pol Drs Mochamad Iriawan SH MM MH (Foto Dok Industry.o.id)

Senin, 18 Juni 2018 - 15:00 WIB

Komjen Pol M Iriawan Inaugurated as PJS Governor of West Java

Bandung - Police High Officer who is also the Main Secretary of the National Resilience Institute of Komjen Pol, Drs Mochamad Iriawan SH MM MH was officially replaced as Acting Governor of West…

Rizieq Shihab Imam Besar Front Pembela Islam (Foto Dok Industry.co.id)

Senin, 18 Juni 2018 - 14:30 WIB

MUI Invites People to Respect SP3 Rizieq Shihab

Jakarta - Vice Chairman of the Indonesian Ulema Council Zainut Tauhid Saadi invites people to respect the legal process termination by the police (SP3) on cases involving Rizieq Shihab.