Palmoilmagazine, JAKARTA – Crude palm oil (CPO) trade in the world is always in fluctuation. After the war between Russia-Ukraine, CPO once hit the highest level at RM 6.632 (US$ 1.506,25) per ton. But it is all over. In the past three years, CPO price gets cheaper.
In an interview with TV Bloomberg, palm oil observer and Director of Godrej International in India, Dorab Mistry said, CPO price does not get the lowest numbers.
He analyzed CPO could be hitting the lowest numbers when there is no war in the two countries.
Palm oil in Indonesia, he continued, the stocks reached 10 million tons. “Indonesia should expand the temporary deletion of CPO export levy,” he said and continued, food price inflation hit the top in May- June 2022.
CPO would be getting cheaper in the next two months. “It would be at RM 3.000 per ton in September,” he said. it would be decreasing at about RM 2.500 – RM 3.000 per ton if the war between Russia and Ukraine is over. (T2)