Malaysian CPO Price Will Be Burdened by Decrease in Export and Appreciation of Ringgit

By : Abraham Sihombing And Aldo Bella Putra | Monday, August 28 2017 - 22:30 IWST

kelapa sawit
kelapa sawit

INDUSTRY.co.id - Jakarta - Malaysian crude palm oil (CPO) prices opened at 2,762 ringgit per tonne in early trading on Monday (28/08/2017). In the short term, Malaysia's CPO price is expected to move in the range of 2,730-2,780 ringgit per ton.

If it can penetrate 2,780 ringgit per ton, Malaysia's CPO price could potentially touch 2,800 ringgit per ton, but if the price falls below the level of 2,730 ringgit per ton, then the CPO price will likely touch the support point of 2,700 ringgit per ton.

"Despite opening higher early in the trading session on Monday (28/08/2017), the Malaysian CPO price movement is expected to be weighed down by data on export decline and strengthening Malaysian ringgit against the US dollar," said Faisyal, Commodity product of PT Monex Investindo in Jakarta, Monday (28/08/2017).

Faisyal said, Malaysia's total CPO exports during the period from 1 to 25 August 2017 fell by about 8.1%. In fact, data published by the Societe Generale de Surveilance Cargo showed that Malaysia's CPO exports dropped 8.4% in the period.

"Meanwhile, Malaysian ringgit exchange rate at 10:29 pm rose 0.2% to 4.2640 ringgit position per US dollar. The appreciation of Malaysian ringgit rates makes CPO prices more expensive for other currency owners," Faisyal said. (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…