The price of crude palm oil is threatened in Indonesia

Published 2022년 8월 5일

Tridge summary

Analysts predict that crude palm oil (CPO) prices will fluctuate in the range of MYR3,500-4,000 per ton, as the market seeks a new balance. This forecast is influenced by several factors, including China's economic conditions, the US Federal Reserve's interest rate policy, geopolitical tensions, and economic challenges in the UK and South Asia. Additionally, Indonesia is working to boost CPO exports, which could lead to an oversupply in the market and further drive down prices. The direction of these prices will become clear after the US inflation data release on August 10. Furthermore, cooking oil prices are expected to follow the downward trend in CPO prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Jakarta, CNBC Indonesia - The price of crude palm oil (CPO) is predicted to move in the range of MYR3,500-4,000 per ton. Analysts assess, CPO prices will still fluctuate looking for a new balance. Quoting the tradingeconomics chart for today's trading session (Friday, 5/8/2022), the price of CPO in the international market is moving in the range of MYR3,885 per tonne. "The price of CPO is still looking for a new balance, it looks like it is forming in the MYR3,800 range. Prices will still fluctuate at MYR3,500-4,000. However, it could also go down because this is a negative sentiment in Indonesian CPO consuming countries," said Macro Equity. Samuel Sekuritas Indonesia strategist Lionel Priyadi told CNBC Indonesia, Friday (5/8/2022). Lionel said that China's worsening economic conditions due to the prolonged lockdown could drag the global economy deeper into recession. Meanwhile, he said, there is market sentiment in the US which is currently being hit by euphoria about the ...

Source: Cnbcindonesia