The Palm Scribe

Export slowdown brings CPO price down

Kontan Harian, 26 February 2019

The benchmark crude palm oil (CPO) contract for May delivery on the Malaysia Derivatives Exchange fell 1.5% to 2,223 ringgit per metric ton. Garuda Berjangka President Director Ibrahim said on Monday (February 25) that the condition was caused by the slowdown of CPO exports in February, which fell 6.1% compared to exports in January. Malaysia and Indonesia are also engaged in an export war. Indonesia is currently persuading India to reduce CPO import duty, considering that India imposes lower import duty for Malaysia’s CPO. In addition, Philippines’ Agriculture Secretary Emmanuel Piñol, according to “Bloomberg”, plans to limit CPO imports from Malaysia and Indonesia.

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