InfoSAWIT, JAKARTA – In August 2018,the crude palm oil (CPO)was about US$ 542.50 – US$ 577.50 per ton, within the avarage, US$ 557.50 per metric ton. This was the cheapest since January 2016
The CPO global price was pressed because the other kinds of vegetable oil was cheaper too, namely, the soybean and the CPO stocks were abundant in Indonesia and Malaysia.
The information from Indonesian Palm Oil Association (IPOA) said that the high exports of CPO and the implementation of B20 mandatory program could not reduce the stocks significantly in this country.
“It is hoped that the government could accelerate the implementation of B20 program to non PSO for it is believed, it could absorb CPO in this country in significant numbers if the implementation runs as the plans,” Executive Director of IPOA, Mukti Sarjono said in the official statement to InfoSAWIT, Monday (1/10/2018). (T2)