The Palm Scribe

Uncertainty still looms over CPO

Bisnis Indonesia, 3 November 2018

Indonesian Palm Oil Association (GAPKI) estimated global crude palm oil (CPO) price to range between $600-$650 per metric ton next year, up from price estimation this year of $540-$550 per metric ton. In addition, the association also predicted CPO exports won’t see significant increase next year, if India does not slash its import duty of CPO and its derivatives and the European Union continues its negative campaigns.

GAPKI Chair Joko Supriyono expected palm oil price and demand to grow slightly better next year as several main export markets would still pose challenges and there are possibilities of economic slowdown. Meanwhile, GAPKI Trade and Sustainability Deputy Chair Togar Sitanggang expected CPO production to be sub-optimal, considering the possibility of El Nino which occurs every four years.

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