Malaysia's CPO Price Crashed to Position RM2.195 per Ton
By : Abraham Sihombing And Aldo Bella Putra | Thursday, September 20 2018 - 17:00 IWST

Kebun Kelapa Sawit (Ist)
INDUSTRY.co.id - Jakarta - The decline in the price of contracts for the sale of Malaysian crude palm oil (CPO) for delivery in December 2018 on the Malaysia Derivatives Exchange touched RM2,195 per ton on Tuesday (18/09/2018). That is the lowest price level since August 15, 2018.
According to data from Monex Investindo Futures in Jakarta, the price of Malaysian CPO has decreased by more than 2%. The price decline was caused by an increase in the volume of CPO production in the neighboring country.
In addition, the data also shows that the price decline was also caused by the trade war conducted by China with the United States (US), especially in the trade of vegetable oil.
In the China-US trade war, US President Donald Trump imposed a 10% import tax equivalent to US $ 200 billion for goods imported from China.
In fact, Trump said, "If China retaliates against US farmers or industry for the implementation, we will implement the next stage of taxation of US $ 267 billion as additional import costs."
Meanwhile, the Chinese Trade Minister revealed that US unilateralism and protectionism would harm the interests of the US and China and various global economies.
As for Wang Tao, commodity market analyst, the price of Malaysian CPO crashed far to the level of RM2,197 per ton after the price of palm oil commodities continued to slide to penetrate the support point of RM2,227 per ton. (Aaham 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