CPO price rose on Malaysian CPO production data for January 2018 decreased to 1.560.000 metric ton compared to December 2017 at 1.834.167 metric ton.
Supporting the price, negative sentiment has been reduced after Netherlands, Malaysia’s second largest investor, has become the latest European Union member after UK and Sweden to also express disagreement on the ban of palm oil.
Meanwhile, China, the second biggest buyer of Malaysian palm oil and palm-based products, will not impose a ban and will not set any limit on the import of Malaysian palm oil despite the European Union Parliament’s discriminatory stance to impose barriers to palm oil trade.
Indonesian Ministry of Trade revised its export growth target to 11% in 2018 from the previous of 5% - 7%. Several factors driving the target increase are Indonesia’s victory over accusations of dumping of Palm Oil biodiesel products by the European Union and the opening of Palm Oil markets in Africa and South Asia.
B20 Trials in Lahat, South Sumatra
B20 diesel trials for train in Balaiyasa Lahat, South Sumatra, have started since last Saturday. The trials of low emission biodiesel were planned to be held for 6 months in 4 locomotives. The trials are expected to lower Indonesia air pollution and especially to intensify Indonesian crude palm oil consumption, which will support the price of Indonesia crude palm oil.
House of Representative to Submit Palm Tree Bill in 2018 National Legislative Program
The bill is resubmitted after the discussion stopped temporarily after facing disagreement from the Government. The House of Representative still insists to continue the discussion of Palm Tree Bill this year. Firman Soebagyo, member of Commission IV of the House of Representatives, expects that the bill will play a major role in developing the national economy – supporting the Indonesian palm tree/oil industry. (sawit Indonesia)