The Palm Scribe

CPO price may rise

Kompas, 3 November 2018

Indonesian Palm Oil Association (GAPKI) Trade and Sustainability Deputy Chair Togar Sitanggang predicted crude palm oil (CPO) to trade at a range of $600-$650 per metric ton in 2019, up $50-$100 per metric ton from its average price this year. He spoke during the 14th Indonesian Palm Oil Conference (IPOC) and 2019 Price Outlook in Nusa Dua, Bali on Friday (November 2). Togar said acceleration of the mandatory 20% biodiesel blend (B20) program will boost CPO price. In addition, a surge of CPO demand from China, which has reduced imports from the US, will drive the commodity’s price in the global market.

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