The Palm Scribe

Negative sentiments drag CPO price down

Kontan Harian, 16 January 2019

The benchmark crude palm oil contract for March 2019 delivery on the Malaysia Derivatives Exchange rose 0.61% to 2,149 ringgit per metric ton on January 15. Garuda Berjangka Director Ibrahim said that negative sentiments are currently hindering the price of crude palm oil (CPO). The sentiments include high import duty on palm oil products imposed by India, US-China trade war, and European Union’s plan to ban CPO-based products. Thus, he predicted the demand for CPO to remain stagnant.

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