Palm Oil Price would be Better

Palm Oil Price would be Better

InfoSAWIT, JAKARTA - Crude Palm Oil Producing Council (CPOPC) recently reported that the average CPO price would be better in 2020. For example, it was once RM 3.013/ton in January 2020. The cheapest one was in March 2020 reaching RM 2.074/ton. The average price in the last five months was RM 2.496/ton.

The report also noted that since the early 2020, the CPO seems better than it in last year, 2019. It was about RM 2.119/ton in average. The most expensive one was RM 2.813/ton in December 2019 and the cheapest was RM 1.879/ton in July 2019.

Unfortunately the emersion of Covid-19 has become the factor to make the CPO cheap again whole over the world since January 2020. The pandemic has disturbed the structures of economy, politic, social, and finance globally and every commodity trade significantly decreased.

“During the period, every kind of vegetable oil in the world decreased and crude oil kept being cheaper and so did the demands,” CPOPC noted which InfoSAWIT got.

The industrial experts predicted their opinions to the CPO price for the rests of this year. Covid-19 pandemic really influences the consumption in food and non-food sectors globally.

CPOPC is optimist that the CPO price would be better in the fourth quarter of 2020 within the condition Covid-19 pandemic could be well handled. (T2)

For more, please read InfoSAWIT, August 2020

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