InfoSAWIT, JAKARTA - From the information told by Indonesian Palm Oil Association (IPOA), crude palm oil (CPO) production in May 2018 reached 4,24 million tons or increased 14% compared to it in April which reached 3,72 million tons.
The May production also increased the stocks in Indonesia to be 4,76 million tons compared to last month production that reached 3,98 million tons.
From the price perspective in May 2018, the global CPO price was about US$ 650 – US$ 670 per ton within the average price was US$ 653,6 per metric ton. The May average price decreased US$ 8,6 compared to it in April which was US$ 662,2 per metric ton.
“The CPO price in the next month would be about to decrease because of the high stock in Indonesia and Malaysia,” Executive Director of Indonesian Palm Oil Association (IPOA), Mukti Sardjono said in the official statement to InfoSAWIT, Monday (10/7/2018). (T2)