CPO Price Rise Signals Positive Outlook: Will AALI and Other Issuers Follow Suit?

Besides the diminishing impact of El-Nino, there has been an uptick in the price of crude palm oil (CPO). What are the outlooks for CPO companies like PT Astra Agro Lestari (AALI) and PT Dharma Satya Nusantara (DSNG)?

Editorial Team

2 Mar 2024 - 15.28
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CPO Price Rise Signals Positive Outlook: Will AALI and Other Issuers Follow Suit?

Workers arranging oil palm during harvest in the Kemang, Bogor Regency, Sunday (30/8/2020). The Research and Development Agency of the Ministry of Energy and Mineral Resources has initiated a feasibility study on the utilization of crude palm oil (CPO) for diesel power plants (PLTD), with the study expected to conclude by December 2020. Bisnis/Arief Hermawan P

Bisnis, JAKARTA— Besides the diminishing impact of El-Nino, there has been an uptick in the price of crude palm oil (CPO). What are the outlooks for CPO companies like PT Astra Agro Lestari (AALI) and PT Dharma Satya Nusantara (DSNG)?

DataIndonesia.id reports that CPO contract prices saw an uptick in trading on Thursday (29/2/2024) on the Malaysian futures exchange. This rise in CPO prices mirrors the movement of competing oils. However, market participants are currently awaiting insights from a major industry conference scheduled to take place in Kuala Lumpur next week.

In Malaysia, CPO futures prices for the March 2024 contract concluded 42 points higher or 1.05% above the previous level of MYR 3,983/ton, reaching MYR 4,025/ton. Similarly, for the April 2024 contract, CPO futures prices in Malaysia surged by 62 points or 1.57%, climbing from MYR 3,956/ton to MYR 4,018/ton.

Meanwhile, the CPO futures price for the May 2024 contract saw an increase of 63 points or 1.61%, moving from MYR 3,907/ton to MYR 3,970/ton. Additionally, the most active soybean oil contract in Dalian experienced a 0.66% rise, while the palm oil contract surged by 1.08%. Meanwhile, soybean oil on the Chicago Board of Trade (CBOT) was trading up by 0.15%.

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Emanuel Berkah Caesario
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CPO Price Rise Signals Positive Outlook: Will AALI and Other Issuers Follow Suit?

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