Malaysian CPO Price Still Affected by Negative Sentiment of US-China Trade War
By : Abraham Sihombing And Aldo Bella Putra | Friday, July 06 2018 - 18:30 IWST

Kebun Kelapa Sawit (Ist)
INDUSTRY.co.id - Jakarta - The price of crude palm oil (crude palm oil / CPO) Malaysia on Friday trading (06/07/2018) is estimated to move in the range of RM2.247-2.345 per ton. The price of CPO on Wednesday (04/07/2018) moves in the range of RM2.290-2.314.
If the two price ranges are compared, the price of CPO is seen to continue to strengthen amid the continuing negative impact on the anxiety caused by US and Chinese trade wars.
Malaysian CPO price on Wednesday (04/07/2018) closed at RM2.298 per ton and re-opened on Thursday trading (05/07/2018) at RM2.309. Thus, the price of CPO in trading yesterday looks tend to strengthen.
"However, Malaysian CPO futures prices at the close of trading Wednesday were the second straight decline. That is because still affected by the release of export data that is not in accordance with previous expectations, "said Arie Nurhadi, a research analyst of PT Monex Investindo Futures commodity exchanges, in Jakarta, Friday (06/07/2018).
.
Arie said the CPO price for September 2018 delivery contract on Bursa Malaysia Derivatives Exchange fell 0.7% to RM2,298 or equivalent to US $ 568.25 per ton at the end of trading on Wednesday. On the previous day, the price of CPO fell to a position of RM2,290 per ton.
"The drop in Malaysian CPO prices is likely to be caused by the erosion of soybean oil prices to the lowest level in the last two years on Monday (02/07/2018) amid the US-China trade war situation," Arie said.
On Tuesday (03/07/2018), the price of soybean oil on the Chicago Board of Trade (CBOT) for December 2018 shipments fell 0.4% before the commodities exchange closed due to the big US Independence Day holiday that falls on every July 4. (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