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).