Strengthening Ringgit RateHas Potential to Press Malaysian CPO Price Up to 2,260 Ringgit per Ton
By : Abraham Sihombing And Aldo Bella Putra | Wednesday, November 29 2017 - 21:30 IWST
Related News
Import Restrictions and High Reserves Have the Opportunity to Press CPO Prices
CPO Price Predicted to Support Reduction in Production and Depreciation of Malaysian Ringgit
INDUSTRY.co.id - Jakarta - Despite closing down on Tuesday trading (28/11/2017), the price of crude palm oil (CPO) Malaysia technically is still likely to fall to the psychological support point of 2,400 ringgit per ton, even up to 2,260 ringgit per ton.
The decline was due to the Malaysian ringgit rate appreciation of 0.4% on Tuesday (28/11/2017). That's close to the highest level of Malaysian ringgit in the past year.
The worsening performance of West Texas Intermediate (WTI) crude oil prices due to uncertainty over OPEC meeting results this week helped drive the fall in Malaysian CPO prices.
Meanwhile, Intertek Testing Services and Societe Generale de Surveillance, said Malaysian CPO exports from November 1 to 25, 2017 decreased between 8.4-8.6% over the same period in October 2017. (Abraham Sihombing)
Read Also
Sawit Sumbermas Sarana Preparing RSPO Virtual Tour for August 2021
Kao Corporation, Apical & Asian Agri Join Hands to Empower Smallholders…
Shared Responsibility Boosts Sustainable Palm Oil Absorption In Indonesia
RSPO Independent Smallholders Ride The Rough Patch of Covid-19
GAPKI: Thank you Indonesian Press
Today's Industry
Selasa, 17 Mei 2022 - 14:00 WIB
NORD DRIVESYSTEMS at LogiMAT in Stuttgart From 31st May to 2nd June 2022 NORD will present innovative drive solutions for intralogistics
The specialist LogiMAT exhibition in Stuttgart offers as comprehensive overview of the intralogistics and process management market. As one of the market leaders for drive technology, NORD presents…
Selasa, 17 Mei 2022 - 13:00 WIB
President Jokowi Invites US CEOs to Boost Cooperation with Indonesia
President Joko “Jokowi” Widodo has invited company CEOs in the United States to boost cooperation with ASEAN countries, particularly Indonesia.
Selasa, 17 Mei 2022 - 12:28 WIB
President Jokowi, ASEAN Leaders Attend Dinner Hosted by US President
President Joko “Jokowi” Widodo Thursday (05/12) attended a dinner with the leaders of ASEAN countries hosted by President of the United States Joe Biden at the White House, Washington D.C.
Selasa, 17 Mei 2022 - 11:23 WIB
TPE unleashes benefits for pet accessories
The pet care market is rapidly expanding as pet ownership increases, as does spending on pet food, grooming tools, and accessories. Pet owners are significantly concerned about the prevalence…
Jumat, 13 Mei 2022 - 16:15 WIB
Robocash Group reached 2 BN USD of disbursement and issued audited financial report of 2021
Robocash Group publishes the audited combined financial statements for the year ended 31 December 2021. The Group reached an all-time high 2 BN USD of issued financing and is expected to increase…
Industri Populer
Magazine
CAREER
News Comment