Beware of Production Increase, Malaysia CPO Price Potentially Down

By : Abraham Sihombing And Aldo Bella Putra | Monday, November 20 2017 - 20:00 IWST

INDUSTRY.co.id - Jakarta - The price of crude palm oil (crude palm oil / CPO) Malaysia is expected to go back down in trading Monday (20/11/2017).

"The reason is that market players are considering increasing import taxes on vegetable oils in India and the projected increase in production," said Faisyal, an analyst at PT Monex Investindo Futures, in Jakarta on Monday (20/11/2017).

The Indian government has raised import duty for CPO to 30% from the previous 15% in an effort to limit cheaper CPO shipments and increase local CPO prices to support local farmers.

According to a Reuter’s survey, Indonesia's CPO production is likely to rise 8.8 percent from 3.63 million tons to 3.95 million tons in September 2017.

Hasan Hasril Siregar, Director of Indonesian Palm Oil Research Institute, said that CPO production in October 2017 should be higher because it is the peak of the harvest season.

"Palm oil production in November 2017 is expected to return to the level as in September," said Hasan.

In today's trading, market participants will be waiting for reports of CPO exports from the company Cargo Surveyor ITS and Cargo Surveyor SGS for the amount of demand for palm oil.

Meanwhile, the Malaysian ringgit today has the potential to move in the range of 2,620-2,730 per US dollar. The nearest support point is predicted to be at 2.650 with the nearest resistance point at 2700. (Abraham Sihombing)

News Comment

Today's Industry

Grab (Ist)

Kamis, 11 Oktober 2018 - 12:36 WIB

Women Activists Criticize GRAB Indonesia on Victims Harassment Mediation

A number of women activists express their anger and regret at the GRAB Indonesia. The Malaysian applicator response to bring together between a driver partner who is allegedly harassed his passengers…

Panen Padi (Foto Dok Industry.co.id)

Senin, 08 Oktober 2018 - 03:30 WIB

Banten Lebak Farmers Harvest 55,622 Tons of Dry Grain

Lebak-Petani in Lebak Regency, Banten, during September 2018 harvests rice in an area of ​​9,347 hectares of paddy fields with a production of 55,622 tons of dried pungut (GKP) grain.

Bawang Merah (Ist)

Senin, 08 Oktober 2018 - 03:00 WIB

Kelompok Tani Sengingi Riau Panen Bawang Merah

Kuantan Singing - Beken Jaya Benai Farmer Group in Kuantan Singingi Regency, Riau Province harvesting shallots up to tens of tons managed on a quarter hectare of land, the results can improve…

Senin, 08 Oktober 2018 - 02:30 WIB

PT Pertamina Lubricants Wins Two TOP CSR 2018 Awards

Jakarta - PT Pertamina Lubricants managed to bring home two awards at the TOP CSR 2018 TOP CSR category on Lubricants Business, namely for the Corporate Social Responsibility (CSR) Enduro Student…

Listrik Ilustrasi

Senin, 08 Oktober 2018 - 02:00 WIB

Electrical System in Central Sulawesi is 75% Normal

Jakarta - Electricity, telecommunications, roads, airports and fuel supply (BBM) infrastructure have begun to recover in areas affected by the earthquake in Central Sulawesi. Assistance from…