Ringgit Stronger, CPO Price Weighted Continued

By : Abraham Sihombing And Aldo Bella Putra | Tuesday, December 05 2017 - 21:30 IWST

Lahan Kelapa Sawit (Ist)
Lahan Kelapa Sawit (Ist)

INDUSTRY.co.id - Jakarta - The price of crude palm oil (crude palm oil / CPO) Malaysia for delivery in February 2018 at today's trading transacted 2,562 ringgit per ton.

"That means, CPO prices continue to fall after the decline in prices that occurred yesterday (Monday, December 4, 2017 - ed) by 0.6% to 2588 ringgit per ton compared to last weekend's trading session," said Faisyal, commodity stock analyst from PT Monex Investindo Futures, in Jakarta, Tuesday (05/12/2017).

Faisyal said the fall in Malaysia's CPO price was due to the strengthening of the ringgit exchange rate against the US dollar (US). The Ringgit exchange rate today rose 0.4 percent to 4.0525 per dollar.

"The appreciation of the ringgit rate tends to depress the price of CPO as it can reduce export demand," Faisyal added.

The previous CPO price had risen to a one-week high as it followed the soybean oil rise due to the dry weather that hit Argentina and possibly harming the crop.

In addition, CPO production in Malaysia is likely to be disrupted by floods on the eastern coast of Peninsular Malaysia and the rainy season in Malaysia by the end of this year which could potentially slash production in November also shore up previous CPO prices. (Abraham Sihombing)

News Comment

Today's Industry

Gibu Mathew, Vice President and General Manager in Asia-Pacific (APAC) in Zoho Corp. (special)

Rabu, 30 November 2022 - 11:22 WIB

How to Make SaaS Work for Small and Medium-Sized Businesses

Southeast Asia's digital transformation has been impressive as the region is now poised to reach a projected digital economy worth USD360 billion by 2025. With digitalisation, the region bore…

PT Dharma Polimetal ("Dharma Group") Triputra Group automotive component manufacturing company.

Senin, 28 November 2022 - 12:15 WIB

DRMA Remains Optimistic 2023 Automotive Still Rises, Targets Sales Up 20%

PT Dharma Polimetal Tbk (“DRMA”), a listed company engaged in automotive component manufacturing business sees the prospects for the automotive business in 2023 will still remain promising.…

Alvara Research

Sabtu, 26 November 2022 - 06:20 WIB

Turnover Rises High, Culinary MSMEs No Problem Paying OFD Platform Commissions

Online food delivery (OFD) services have accelerated the growth of food and beverage (F&B) MSMEs in Indonesia by 1.9 times faster compared to offline sales. OFD platforms enable MSMEs to have…

KB Bukopin Building. (Photo: Kompas.com)

Kamis, 24 November 2022 - 20:43 WIB

Shares Price Falling, Deficit IDR 6.99 Trillion, KB Bukopin Investors Not to Expect Dividends

The shareholders hope of issuers listed on the Indonesia Stock Exchange is of course to produce investment results in the form of capital gains and dividends obtained from the positive performance…

A Health exhibition of Banten Province on November 3-5, 2022 at ICE BSD, South Tangerang, Banten. (Photo: Banten Province PR)

Jumat, 18 November 2022 - 16:14 WIB

Premier Bintaro Hospital Assigned as Banten Medical Tourism Hospital

Banten Province hosted the 58th National Health Day by holding a health exhibition on November 3-5, 2022 at the Indonesia Convention Exhibition (ICE) BSD, South Tangerang, Banten.