InfoSAWIT, JAKARTA –The crude palm oil (CPO) price in Malaysia would be better on Thursday trade (04/01/2018). It happened for the demand from China and the increasing price of other kinds of vegetable oil.
Analyst of commodity exchange, PT Monex Investindo Futures, Faisyal said, the CPO demand from China would be increasing heading to Imlek (Chinese Religious day) next month. So the vegetable oil traders in China start to anticipate the increasing demand since the early of this year so that it could control the price.
He also said, the stock exchange traders in Kuala Lumpur thought, the global vegetable oil markets are doing their best to anticipate the increasing exports in the future. “It happens for the CPO exports from Malaysia increased between 6-9% in December 2017. The increasing exports would happen too in January 2018 for the increasing demands from China,” he said, as InfoSAWITquoted from Industry.co.id.
For information, China is the second biggest CPO importer in the world after India. The Chinese traders would increase the stock heading to Imlek to anticipate the increasing demands. It is for their kitchen needs. (T2)