Depreciation of Malaysian Ringgit Continues, CPO Price Is More Powerful

By : Abraham Sihombing And Aldo Bella Putra | Thursday, March 01 2018 - 21:00 IWST

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

INDUSTRY.co.id - Jakarta - The price of crude palm oil (CPO) for May 2018 at Malaysia Derivatives Exchange increased 0.2% to RM2,547 or equivalent to US $ 649.25 per ton. Technically, CPO price moves in the range of RM2.537-2.562 per ton.

"The price of CPO rose slightly in early trading this Thursday which is the beginning of March 2018 as sustained by the depreciation of Malaysian Ringgit (RM). The weakening of the Malaysian currency has boosted transaction volume, especially by foreign buyers," said PT Monex Investindo Futures research team in Jakarta on Thursday (01/03/2018).

Previously, CPO price movements followed other vegetable oil price movements amid meetings planned from cargo surveyors and industry conferences next week, where leading analysts are scheduled to discuss global vegetable oil price developments. (Abraham Sihombing)

News Comment

Today's Industry

NORD-DuoDrive.jpg: The innovative and patented DuoDrive geared motor reaches outstanding system efficiency Image: NORD DRIVESYSTEMS

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…

President Jokowi attends the meeting between ASEAN leaders and American entrepreneurs at Intercontinental the Willard Hotel, Washington DC, Thursday (05/12). Photo by: Laily Rachev

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.

President Jokowi, President Biden, and ASEAN Leaders on a group photo prior to the dinner, at the White House, Washington D.C., Thursday (05/12)

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.

(Photo: © 2022 KRAIBURG TPE)

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…

Sergey Sedov, Founder and CEO of Robocash Group

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…