Decrease in Reserves Potential to Increase Malaysian CPO Price Increase
By : Abraham Sihombing And Aldo Bella Putra | Tuesday, February 13 2018 - 21:30 IWST
Kebun Kelapa Sawit (Ist)
INDUSTRY.co.id - Jakarta - The price of crude palm oil (CPO) is estimated to move in the range of RM2.515-2.585 per ton and tend to strengthen in trading Tuesday (13/02/2018).
"The increase in CPO price is expected to continue in today's trading due to the emergence of the published outlook Malaysian Palm Oil Board (MPOB) which reported a decrease in reserves in January 2018 amounted to 5.72% to 1.57 million tons compared to the previous month," said the analysis commodity exchanges of PT Monex Investindo Futures, Tuesday (13/02/2018).
The outlook also informed that CPO production in January 2018 fell 13.49 percent to 1.59 million tons compared to the previous month's production of 1.83 million tons. Meanwhile, in the same period, Malaysia's CPO export grew by 6.01%.
Meanwhile, Surveyor Intertek Testing Services reported Malaysian CPO exports on 1-10 February 2018 rose 14.7% to 412,207 tons, compared to the same period in January 2018 of 359,580 tons. (Abraham Sihombing)