Jakarta, (Antaranews Kalsel) - Head of Communication for the Indonesian Palm Oil Entrepreneurs Association (GAPKI) Topan Mahdi said amidst the continuing drop in the price of Crude Palm Oil (CPO), what needs to be done now is to pray to the Almighty so that this matter will soon pass.
He said the decline in the price of CPO has been a hot discussion of the government and business in recent weeks. CPO prices are now below MYR 2,000 per ton.
"This is a severe psychological price, even in some companies the MYR 1,900 level is a break-even point for the cost of processing Fresh Fruit Bunches (FFB) to one ton of crude palm oil," he said.
Of course, he admitted, he was not in the capacity to predict the trend of palm oil prices going forward, whether the level of CPO price of USD 420 per ton was the bottom line or would still fall deeper.
Commodity experts who were speakers at IPOC 2018 in Bali last October chose to be more careful in forecasting price trends.
"Their analysis of the previous year missed everything, let alone only a palm communications practitioner like me, who dared to predict prices," he said when giving a press statement some time ago.
According to him, analyzing the current fall in palm oil prices cannot only be seen from one point of view, it is necessary to look at the supply and demand side, how the movement of CPO and the prices of other vegetable oils outside of palm oil.
Analysis of American and Chinese trade wars, global economic growth and economic growth in palm oil export destination countries, and the need for domestic policy analysis that is directly or indirectly related to the palm oil industry.
