CPO price in Indonesia is predicted to collapse to MYR 2,500
RBD Palm Oil
Indonesia
Published Sep 28, 2022
Tridge summary
The price of crude palm oil (CPO) is predicted to fall to MYR2,500 per tonne by the end of this year. Depressed sentiment threat of global recession.
Original content
Jakarta, CNBC Indonesia - However, domestic palm oil entrepreneurs are still optimistic. "Projections are fine, but it all depends on supply and demand. It still stands at MYR3,000-4,000," Secretary General of the Indonesian Palm Oil Association (Gapki) Eddy Martono told CNBC Indonesia, Tuesday (27/9/2022). Head of Foreign Affairs of Gapki M Fadhil Hasan said the same thing. "I can't predict the price, but the price will still be stable," he told CNBC Indonesia, Tuesday (27/9/2022). Previously, Director of Godrej International Ltd, Dorab Mistry, predicted that the price of CPO would plummet to MYR2,500 by the end of 2022. This was stated when he was a speaker at the 2022 Globoil AGRA. In a video presentation broadcast on Tefla's Youtube account, September 26, 2022, Dorab said that the potential drop in CPO prices was triggered by the potential for increased supply of CPO to the global market. "I myself don't agree (with the projected price dropping to MYR2,500 per ton). I don't ...
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