Today, CPO Price Moves in Range RM2.450-2.560 per Ton
By : Abraham Sihombing And Aldo Bella Putra | Tuesday, February 06 2018 - 21:00 IWST

Kebun Kelapa Sawit (Ist)
INDUSTRY.co.id - Jakarta - Malaysian crude palm oil (CPO) price is expected to move in the range of RM2,450 - 2,560 a ton in trading on Tuesday (06/02/2018) and tends to weaken due to the outlook for export slowdown and reserve rise.
This was disclosed by Faisyal, a research staff and futures analyst at PT Monex Investindo Futures, in Jakarta, Tuesday (06/02/2018).
On Monday (05/02/2018), CPO prices rose thanks to the depreciation of the Malaysian Ringgit (RM) exchange rate and massive buying of CPO to replenish its short covering reserves.
According to survey results of two surveyor companies, shipments of CPO from Malaysia in January 2018 are expected to fall 8% to 1.31 million tons compared to the previous month. That's because of the decline in demand from China although they want to welcome Imlek.
Chinese Lunar New Year celebrations usually encourage increased CPO demand because it is used for cooking purposes during the celebration. But because the reserves of soybean oil and olive oil are quite large, it limits Chinese imports to CPO this year.
Meanwhile, total CPO final reserves are expected to rise 0.6% to 2.75 million tons compared to the position in December 2017. According to a Reuters survey. It will boost Malaysia's CPO reserves by the end of January 2018 to the highest level since November 2015.
High reserves can push down the price of CPO, which is mostly produced by Malaysia and Indonesia. CPO can be used as raw material for producing soap and vegetable oil.
"In the future, the price of CPO can reach RM2.560 per ton. That might happen if the price can penetrate RM2.520 per tonne first. But if the price of CPO has weakened up to RM2,480, that means, the price of CPO potentially reaches the lowest point at RM2.450 per ton," Faisyal concluded. (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…
News Comment