US Sanctions and India's Coal Stance Will Raise CPO, Coal Prices

Coal and CPO commodities are set to share a tailwind following India’s new import policies and the United States sanctions against Russian coal producers.

Jessica Gabriela Soehandoko

4 Mar 2024 - 19.34
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US Sanctions and India's Coal Stance Will Raise CPO, Coal Prices

Illustration - The equipment was operating in a coal mining area recently.

Bisnis, JAKARTA — Coal and crude palm oil (CPO) commodities are set to share a tailwind following India’s new import policies and the United States’ sanction against Russian coal producers.

Coal prices have gained by 9 percent in the last week while CPO, although closing weaker, also strengthened ahead of a major industry conference in Malaysia next week.

Based on Bloomberg data quoted on Saturday (3/2/2024), the futures contract price for March 2024 coal on ICE Newcastle on Friday's trading (3/1/2024) recorded a 0.76 percent or 1 point increase to 132 per metric ton, gaining by 5.39 percent over the week.

Furthermore, delivery contracts for April 2024, which has the highest volume, also strengthened by 2.84 percent or 3.75 points to 136 per metric ton, a 9.02 percent increase. Quoting CoalMint, on Thursday (2/29/2024), India launched plans and policies for coal logistics.

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US Sanctions and India's Coal Stance Will Raise CPO, Coal Prices

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