Palm oil Gets Better, The Average is US$ 530,7/tons

Palm oil Gets Better, The Average is US$ 530,7/tons

InfoSAWIT, JAKARTA – Palm oil industries start getting better from the bad time because of the cheap average price of crude palm oil (CPO) since August 2006 globally. It gets better since January 2019, among US$ 520 – 542.50/ton within the average US$ 530,7/ton.

In December 2018, CPO globally was about US$ 470 – 507,50/ton within the average US$ 490,5/ton. “It gets better because the stocks in Indonesia and Malaysia decrease and the global demands start increasing,” Executive Director of Indonesian Palm Oil Association (IPOA), Mukti Sardjono said in the official statement to InfoSAWIT, Friday (1/3/2019) in Jakarta.

Meanwhile the expansion of biodiesel mandatary 20% (B20) to non-PSO since September 2018 keeps consistently running within the increasing trend. In the early of this year, the biodiesel absorption in the domestic reached 552 thousand tons or increased 9% compared to December 2018 which reached 507 thousand tons.

In the early of 2019 the government planned to test B3o mixture. It is hoped that the result would accelerate the B30 mandatory program so that the palm oil absortption in the domestic could increase more. The program could also increase the CPO price globally because of the lack of stock in the global markets.

“This would make Indonesia be better in the energy security and would not depend on the export countries which run tight conditions,” Mukti said. (T2)


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