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2024 CPO Price Prediction by The Government of Malaysia

Doc. InfoSAWIT
2024 CPO Price Prediction by The Government of Malaysia

InfoSAWIT, KUALA LUMPUR – In the latest official information on Friday (13/10/2023), the Government of Malaysia predicted that crude palm oil (CPO) would be about RM 4.000 (US$ 848,36) up to RM 4.500 ringgit per metric ton in 2024.

As quoted from Reuters, CPO price prediction could be more than it which was about RM 3.500 up to RM 4.000 ringgit per ton for this year according to the government’s report which was released in the same time with 2024 budget.

Palm oil production could be increasing next year because of minimal impact from El Nino and plantation workers that got more, according to the report.

As Editorials of InfoSAWIT noticed, the Government of Indonesia on Friday (13/10/2023) launched Indonesian CPO Exchange which is mandated to PT Bursa Komoditi & Derivatif Indonesia (ICDX).

Head of Commodity Futures Trading Supervisory Agency, Didid Noordiatmoko, said that there have been 18 companies that conducted CPO trade in ICDX. He also confirmed that the CPO trade in ICDX would be voluntary. (T2)