Increased Demand to Boost CPO Price Increase this Week

By : Abraham Sihombing And Aldo Bella Putra | Tuesday, April 03 2018 - 16:30 IWST

kelapa sawit (ilustrasi)
kelapa sawit (ilustrasi)

INDUSTRY.co.id - Jakarta - The price of crude palm oil (CPO) in trading Monday (02/04/2018) yesterday closed higher to position RM2.458 per ton. The increase in CPO prices is supported by an increase in demand, mainly from various corporations.

"The high demand for CPO as market participants are taking advantage of the momentum before the end of Malaysia's export tax suspension ends this week and the high demand for CPO from the Middle East ahead of Ramadan," said Arie Nurhadi, research analyst at PT Monex Investindo Futures, in Jakarta, Tuesday (03 / 04/2018).

Arie said that today's CPO price traded at RM2.461 per ton due to the weakening of the Malaysian Ringgit (RM) exchange rate against the US dollar. The weakening of the RM exchange rate against the US dollar was due to the emergence of trade wars between the United States and China after the two countries implemented various trade policies.

"Today's price of CPO has the potential to strengthen to RM2.472 position. If the price is reached, then the price of Malaysian CPO has the potential to reach the level of RM2.501 per ton. However, the price should be wary of having likely to erode up to RM2.384. If the price is reached, then the price of Malaysian CPO is likely to reach RM2.349 per ton, "Arie concluded. (Abraham Sihombing)

News Comment

Today's Industry

Grab (Ist)

Kamis, 11 Oktober 2018 - 12:36 WIB

Women Activists Criticize GRAB Indonesia on Victims Harassment Mediation

A number of women activists express their anger and regret at the GRAB Indonesia. The Malaysian applicator response to bring together between a driver partner who is allegedly harassed his passengers…

Panen Padi (Foto Dok Industry.co.id)

Senin, 08 Oktober 2018 - 03:30 WIB

Banten Lebak Farmers Harvest 55,622 Tons of Dry Grain

Lebak-Petani in Lebak Regency, Banten, during September 2018 harvests rice in an area of ​​9,347 hectares of paddy fields with a production of 55,622 tons of dried pungut (GKP) grain.

Bawang Merah (Ist)

Senin, 08 Oktober 2018 - 03:00 WIB

Kelompok Tani Sengingi Riau Panen Bawang Merah

Kuantan Singing - Beken Jaya Benai Farmer Group in Kuantan Singingi Regency, Riau Province harvesting shallots up to tens of tons managed on a quarter hectare of land, the results can improve…

Senin, 08 Oktober 2018 - 02:30 WIB

PT Pertamina Lubricants Wins Two TOP CSR 2018 Awards

Jakarta - PT Pertamina Lubricants managed to bring home two awards at the TOP CSR 2018 TOP CSR category on Lubricants Business, namely for the Corporate Social Responsibility (CSR) Enduro Student…

Listrik Ilustrasi

Senin, 08 Oktober 2018 - 02:00 WIB

Electrical System in Central Sulawesi is 75% Normal

Jakarta - Electricity, telecommunications, roads, airports and fuel supply (BBM) infrastructure have begun to recover in areas affected by the earthquake in Central Sulawesi. Assistance from…