IPOC 2021: CPO Price Prediction: Will it Remain Expensive

Doc. InfoSAWIT
IPOC 2021: CPO Price Prediction: Will it Remain Expensive

InfoSAWIT, JAKARTA – Committee Chairman of the 17th Indonesian Palm Oil Conference and 2022 Price Outlook (IPOC 2021), Mona Surya, said, 2021 is the golden year for palm oil industries because crude palm oil (CPO) price hit the highest price in history.

In 2021, CPO average price is more than US$ 1.000 per ton and it hit the highest one, about US$ 1.390 per metric ton in October 2021.

Mona said, next year CPO price prospect is about to be discussed in the annual conference, including palm oil market chance in some main exporter countries in the globe, supply and demand of vegetable oil in the world, market trend, and CPO project price in 202.

Besides next year price outlook, just like the government focuses to get economic recovery, IPOC 2021 would discuss palm oil industrial roles to economic recovery.

She continued, as the main palm oil producer in the world, CPO expensive price will have positive impacts to increase smallholders’ economy, and maintain Indonesia’s trade balance remains positive in Covid-19 pandemic, (T2)