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)
Read Also
ISPO to Leverage Palm Oil Competitiveness Level?
Rebranding Indonesian Palm Oil: A Lesson of Starbucks Traceability…
Ministry of Trade Holds 12th Gambir Trade Talk 'Indonesia's Foreign…
Wilmar International and LDC Visit Orangutan Conservation Area on…
Sawit Sumbermas Sarana Prioritizes Commitment to Protect the Environment…
Today's Industry

Senin, 09 Juni 2025 - 14:22 WIB
Savyavasa and Permata Bank Launch Exclusive Foreign Mortgage Program
Savyavasa, a luxury residential development by Swire Properties and JSI Group under PT Jantra Swarna Dipta, in collaboration with Permata Bank, presents a new solution for foreign nationals…

Rabu, 21 Mei 2025 - 10:09 WIB
Indonesia, Thailand Sign MoU on Health Sector, Focusing on Global Capacity, Collaboration
As a part of President Prabowo Subianto’s official visit to Thailand, both countries signed a Memorandum of Understanding (MoU) on health sector, in an effort to strengthen bilateral cooperation…

Rabu, 21 Mei 2025 - 10:06 WIB
Indonesia, Thailand Deepen Cooperation on Security, Trade, and Regional Stability
resident Prabowo Subianto has reaffirmed Indonesia’s strong commitment to deepening bilateral relations with Thailand during the meeting with Thailand’s Prime Minister Paetongtarn Shinawatra…

Selasa, 20 Mei 2025 - 12:44 WIB
Boediman Widjaja's Technology Ready to be Adopted in Jababeka Industrial Estate (KIJA)
In an exclusive seminar entitled "A Great Step: Boediman Widjaja Story - Going from Indonesia, Thriving in Singapore" held at the President Lounge, Menara Batavia, Boediman Widjaja, Founder…

Jumat, 02 Mei 2025 - 10:46 WIB
Binawan and Government Support Indonesian Nurses in Europe through Scholarships
In the midst of the viral #KaburAjaDulu hashtag as a symbol of the young generation's disappointment with domestic working conditions, Binawan responded with real action: dispatching Indonesian…
News Comment