CPO price increase only in Q1
Nani Afrida, The Jakarta Post, Nusa Dua, Bali | Thu, 12/03/2009 4:52 PM
The Indonesian Palm Oil Board (DMSI) has predicted the crude palm oil (CPO) price would increase only in the first quarter of 2010 to US$ 800 per ton, due to the world’s improving economy.
“The price will go up in the first quarter of 2010, but will go down in April due to increasing supply,” DMSI chairman Derom Bangun told reporters Thursday on the sidelines of the Indonesian Palm Oil Conference held by Indonesian Palm Oil Producers (GAPKI) in Nusa Dua, Bali.
CPO is currently sold at $756 per ton in the world market. The price used to decline at the end of the year.
GAPKI will produce 20 million tons of CPO by the end of the year, up from 19.2 million tons last year.
