CPO Price Predicted to Support Reduction in Production and Depreciation of Malaysian Ringgit

By : Abraham Sihombing And Aldo Bella Putra | Tuesday, January 16 2018 - 20:00 IWST

Kebun Kelapa Sawit (Ist)
Kebun Kelapa Sawit (Ist)

INDUSTRY.co.id - Jakarta - The price of crude palm oil (CPO) is expected to increase and potentially move in the range of RM2.440-2.525 per ton in today's trading.

"The rise in prices is due to the projected decline in Malaysian CPO production and the depreciation of Malaysian ringgit against the US dollar," said Faisyal, commodity stock analyst at PT Monex Investindo Futures, in Jakarta on Tuesday (16/01/2018).

Nevertheless, according to Faisyal, the increase in CPO price is expected to be limited due to the emergence of a pessimistic feeling towards the export data of CPO Malaysia.

But traders in the futures markets of Kuala Lumpur generally predict that CPO production volume is declining because the volume of CPO production is in the first quarter of each year usually tend to decrease.

Meanwhile, cargo surveyor Intertek Testing Services reported that Malaysian CPO exports decreased by 7.4% on January 15, 2018 compared to the same period in the previous month.

At 11:37 GMT, Malaysian ringgit (RM) rate weakened 0.3% to 3.9575 position per US dollar. The weakening of the Malaysian Ringgit rate will make the price of palm oil cheaper for other currency owners. (Abraham Sihombing)

News Comment

Today's Industry

A total of 55 health professionals who participated in the Binawan Europe program, in the form of international career development scholarships in Austria. (Photo: The Public Relations of Binawan University)

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…

SUNeVision Initiates MEGA IDC Phase Two Development

Jumat, 28 Maret 2025 - 22:21 WIB

SUNeVision Initiates MEGA IDC Phase Two Development

SUNeVision, the technology arm of Sun Hung Kai Properties (SHKP), today announced the commencement of construction for Phase Two of MEGA IDC in Tseung Kwan O. As Hong Kong's largest data centre…

 PT Metrodata Electronics Tbk (“MTDL”)

Jumat, 28 Maret 2025 - 22:07 WIB

TDL Records New Revenue Record of IDR 25 Trillion in 2024 Ahead of 50th Anniversary

PT Metrodata Electronics Tbk (MTDL), the largest technology Company with the most complete IT and telecommunications products in Indonesia, managed to record a revenue of IDR 25 trillion in…

Wireless Logic

Jumat, 28 Maret 2025 - 22:00 WIB

Wireless Logic Selected By Thales As IoT Connectivity Partner

Wireless Logic, a global leader in IoT connectivity solutions has been selected by Thales, a global leader in advanced eSIM technologies, to enable secure, scalable and resilient IoT connectivity…

Microvista Expands International Presence with Mobile CT System ScanExpress

Jumat, 28 Maret 2025 - 21:53 WIB

Microvista Expands International Presence with Mobile CT System ScanExpress

The German specialist in industrial computed tomography and non-destructive testing, Microvista, announces the European expansion of its innovative mobile CT system, ScanExpress. The system…