Palmoilmagazine, JAKARTA – Indonesian Palm Oil Association (IPOA) reported that palm oil price will be increasing still. In October 2021, it was US$ 1.368/ton CIF Rotterdam or better than it in September 2021 which was US$ 1.235/ton and in August 2021 which was US$ 1.236/ton.
But Executive Director of IPOA, Mukti Sardjono said, palm oil price in November and December 2021 could be decreasing but it is still more than US$ 1.300/ton CPO Cif Rotterdam.
He thought, it happens for the better oilseed harvest but the crushing industries still face issues in some producer countries such as, Argentina, Brazil, and Russia. Vegetable oil decreasing price in general should sustain still.
“Just like price prediction and export volume as they were told before, palm oil exports in 2021 could be more than US$ 35 billion,” Mukti said, as in the official statement to Palmoilmagazine, Wednesday (15/12/2021). (T2)