The price of crude palm oil is threatened in Indonesia

RBD Palm Oil

Indonesia

Published Aug 6, 2022

Tridge summary

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.

Original content

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 possibility of the Fed implementing a policy of raising interest rates that is not as aggressive as previously thought. "If this euphoria ends due to poor inflation data next week, CPO prices could be ...

Source: Cnbcindonesia

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