The price of crude palm oil (CPO) is expected to rise to 3,800-4,200 Malaysian ringgit in the second half of 2023 due to increased demand for CPO due to declining vegetable oil stocks and the production of other oils. Indonesia's ability to supply CPO has never reached above 4,000 RM per tonne. CPO prices are expected to gradually recover, positively impacting Indonesia and Malaysia, which are the two largest CPO-producing countries in the world. Indonesia's CPO production is estimated at 47.2 million tonnes, while Malaysia's is 18.5 million tonnes. The global demand for CPO is estimated to reach 78.5 million tons in 2023.However, a reduction of up to 50% in China's vegetable oil stocks is expected to trigger CPO imports, just as India's CPO processing industry's growth is becoming increasingly intense. The recovery in canola oil prices in Europe opens up new demand opportunities, but the consumption of refined CPO products in Europe continues to decline. The El Nino climate anomaly has the potential to trigger drought for 8-20 weeks, affecting oil palm plantations and the economy of Southeast Asia. The palm oil industry plays a major role in Indonesia's GDP, contributing to its export value of around US$29.63 billion or Rp.446.6 trillion per year.Link di fonte: https://www.kompas.id/baca/ekonomi/2023/07/12/harga-cpo-diprediksi-naik-suplai-jadi-tantangan (ICE GIACARTA)

Fonte notizia: Kompas - 13 July 2023