The Palm Scribe

CPO price rises again

Bisnis Indonesia, 19 February 2019

The benchmark crude palm oil contract (CPO) for April delivery at the Malaysia Derivatives Index rose 0.44% or 10.00 points to 2,264 ringgit per metric ton. Singapore-based Palm Oil Analytics owner Sathia Varqa said, as cited from “Bloomberg” on Monday (February 18), that the price surge was caused by market optimism that the demand on CPO will improve following Malaysia’s decision to keep CPO tax at 0% until March. He added, however, that the ringgit appreciation against US dollar will prevent CPO price from surging even more.

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