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Joss! Harga CPO Cetak Rekor Tertinggi Baru Lagi

Jum'at, 13 Desember 2019 | 06:15

Jakarta, CNBC Indonesia - The price of crude palm oil (CPO) commodities has again set a record high in trading today. CPO prices continue to set the latest record after fears of a weakening in the supply side.
Friday (12/13/2019) CPO prices were in the position of RM 2,920 / ton, up 1% compared to yesterday's trade. When compared with the CPO price position on Friday last week, CPO prices have risen 2.2%.

High prices indicate the market is still worried about the risk of supply depletion amid high demand next year.

Low rainfall at the start of the year that hit Indonesia and Malaysia is expected to reduce production in the first half of 2020, according to analyst calculations.

In addition, farmers also use lower amounts of fertilizer because CPO prices have been depressed and reached their lowest point in recent years.

Malaysian palm oil inventories in November also fell the lowest since the last three months due to a decrease in seasonal production. But Malaysian exports fell due to a fall in purchases from large importers.

Malaysian palm oil inventories in November were at 2.26 million tons, down 4.1% compared to last month. Earlier a survey conducted by Reuters said that supplies would fall by 5% to reach 2.22 million tons.

The latest survey conducted by cargo surveyor Societe Generale de Surveillance said exports of Malaysian palm oil for the period 1-10 December 2019 fell 11.4% to 376,659 tons from the same period the previous month at 425,010 tons.

Meanwhile Indonesia as the world's largest palm producer announced that it will start implementing the B30 program in January next year and B40 in 2021-2022.

Malaysia's B20 program, which is planned to start next year, is estimated to require 1.6 million tons of palm oil while B30 in Indonesia is estimated to need 10 million tons of palm oil, said Reuters.

Keep in mind that starting next year Malaysia will raise its export tax for CPO to 5%, according to the Malaysian Palm Oil Board (MPOB).