The Palm Scribe

Global CPO price stuck in red zone

Bisnis Indonesia, 26 March 2019

The global crude palm oil (CPO) price stayed in the red zone on Monday (March 25), following a production increase and a dispute between the European Union and two main CPO exporters, Indonesia and Malaysia. Both countries are considering restriction of imports from the European Union in a retaliation against the latter’s decision to phase out palm oil-based biofuel.

The benchmark crude palm oil (CPO) contract for May delivery on the Malaysia Derivatives Exchange, according to data compiled by Bloomberg, fell 1.25% or 27.00 points to 2,140 ringgit per metric ton at closing. CPO was traded at an average price of 2,140 ringgit per metric ton on Monday (March 25).

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