KPBN News

CPO PRICE MAY 16: Up 0.27 Percent, Driven by Potential Production Decline



The CPO price for the July 2016 contract, the most active on the Malaysian stock exchange, was seen to strengthen by 0.27% to the level of 2,594 ringgit/ton, after having opened at 2,605 ringgit/ton.
In Friday trading (13/05/2016), the CPO price closed with a significant decline of 2.3% or 61 points to 2,587 ringgit per ton.
Previously, Olam International Ltd. CEO Sunny Verghese had estimated that the CPO output from the main Indonesian producers would fall by two million metric tons, while in Malaysia as much as 1.2 million metric tons, due to El Niño.
Meanwhile, Indian palm oil imports increased along with the slump in CPO prices last month, the increase in trader demand, and high refinery requirements.
Editor : Bunga Citra Arum Nursyifanihttp://market.bisnis.com/read/20160516/94/547816/harga-cpo-16-mei-naik-027-persen-terdorong-potensi-penurunan-produksi