InfoSAWIT, KUALA LUMPUR – The independent observer of agriculture and policy, Chandrashekhar thought that for some time, there would be better price of crude palm oil (CPO) for the next three months. But it is still unsure.
He said that the CPO price for the next three month would end in June this year. It could be about RM 2.300 per ton in average because of seasonal factor. But for the other consideration, it could be RM2.250 per ton in the second semester in 2019.
"It could happen because of the additional stocks when the demands remain stable and the the crude oil (Brent) is getting cheaper,” he said when speaking in the Palm & Lauric Oils Price Outlook Conference & Exhibition 2019, as quoted from The Edge Markets.
He also said that the crude oil (Brent) would be cheper in phase to be US$ 60 and possible to be US$ 55 per barel by the end of this year. This happens for the massive stocks and the demands could be decreasing in the second semester because of the concern of the global progress.
“In the closing exchange in the contract of palm oil stock to be delivered in May 2019, it could be cheaper RM 4 to be about RM 2,157 per ton,” Chandrashekhar said. (T2)