The Palm Scribe

Purchasing power of CPO importers remains sluggish

Bisnis Indonesia, 8 November 2018

Indonesian Palm Oil Association (GAPKI) recorded that 3.2 million metric tons of crude palm oil (CPO) and its derivatives were exported in September, down 3% from August. Low global CPO price is unable to attract importers, given that the prices of other vegetable oil are also low, GAPKI Executive Director Mukti Sarjono said in a monthly report cited on Wednesday (November 7).

Mukti argued that global CPO market is sluggish because Argentina is reducing soybean export duty to attract buyers, while Indonesia and Malaysia are experiencing CPO oversupply.

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