InfoSAWIT, JAKARTA - The report of Indonesian Palm Oil Association (IPOA) to InfoSAWIT recently mentioned that in October 2018 the crude palm oil (CPO) production could be 4,51 million tons or increased about 2% compared to it in the previous month that reached 4,41 million tons.
Though the production was not significant, but it happened as same as the increasing export and the biodiesel usage so the stock in Indonesia reduces about 4,41 million tons.
Meanwhile the CPO in October 2018 was about US$ 512,50 – US$ 537,50 per tonCIF Rotterdam, within the average US$ 527.10 per metric ton.
“The CPO price is globally pressed because the other kinds of vegetable oil are cheap too, namely soybean. The CPO stocks are abundant in Indonesia and Malaysia,” Executive Director of IPOA, Mukti Sardjono said. (T2)