Strengthening Malaysian Ringgit Rate Potential to Press CPO Price

By : Abraham Sihombing And Aldo Bella Putra | Monday, January 29 2018 - 22:00 IWST

kelapa sawit
kelapa sawit

INDUSTRY.co.id - Jakarta - Decrease in crude palm oil (CPO) price is expected to continue on Monday (29/01/2018) after the price of crude palm oil was closed down 1% on Friday (26/01/2018) then.

"Malaysian CPO price today is expected to move in the range of RM2,460 - 2,515 per ton," said Faisyal, a futures analyst at PT Monex Investindo Futures in Jakarta, Monday (29/01/2018).

Faisyal said the ringgit exchange rate is currently in the strongest position since April 20, 2016 against the US dollar. The appreciation of the ringgit rate occurred on Thursday last week when Malaysia's central bank for the first time in the last three and a half years raised interest rates.

"The inflation rate that began to creep up coupled with the good Malaysian economic growth is a factor supporting the Malaysian central bank's policy to raise the interest rate by 25 basis points to 3.25%.

Meanwhile, the United States government (US) is grateful for the depreciation of US dollar exchange rate. The reason, according to US Treasury Secretary last week, the depreciation of the US dollar will be good to encourage future US economic growth.

In addition, Faisyal said, Indonesia and Malaysia CPO production volume is predicted to increase this year, each of which will reach 37.8 million tons and 20.5 million tons. The increase in production volume is due to the recovery of CPO production after the El Nino storm that had lasted some time ago. (Abraham Sihombing)

News Comment

Today's Industry

Ketua Umum Kadin Indonesia Rosan P. Roeslani (Foto Ist)

Senin, 21 Mei 2018 - 21:50 WIB

Kadin: The Government Is Too Ambitious to Set Economic Growth at 5.8 Percent in 2018

Chamber of Commerce and Industry (Kadin) Indonesia assesses the assumption of economic growth for next year which is set at 5.4% -5.8% by the Government is too ambitious.

Edy Suyanto, Chief Operating Officer (CFO) of PT Arwana Citramulia Tbk. (Photo: Herlambang / Industry.co.id)

Senin, 21 Mei 2018 - 21:40 WIB

Prepare Rp 150 Billion Fund, PT Arwana Citra Mulia Ready to Add Production Line Reaches 6 Million Square Meters per Year

PT Arwana Citra Mulia Tbk, is preparing to expand or add new production lines at its fourth plant located in Ogan Ilir with an additional 6 million square meters per year.

 Gunung Steel Group

Senin, 21 Mei 2018 - 21:31 WIB

Gunung Steel Group, From Welding Workshop to be International Steel Company

Formed on July 18, 1986, Gunung Steel Group (GSG) known as Gunung Garuda Group and later changed its name to Gunung Steel Group in 2001. Starting from a simple welding workshop in Medan, North…

Tanjung Lesung special economic zone

Senin, 21 Mei 2018 - 21:21 WIB

Increase Tourist Visits, Pandeglang Improve Tourism Objects

To attract tourists to visit Pandeglang, Banten, the local government seeks to fix tourist attractions and services in various tourist destinations.

Hatta Taliwang, Chairman of PB PERCASI GM Utut Adianto and Maruarar Sirait while attending a non-master chess tournament (Photo: Anto / Industry.co.id).

Senin, 21 Mei 2018 - 21:18 WIB

Non-Master Chess Tournament Held For Second Time

The second chess tournament was held to raise the spirit of nationality, participants began young people of parents, women and men.