{"id":21070,"date":"2022-01-13T08:50:00","date_gmt":"2022-01-13T01:50:00","guid":{"rendered":"https:\/\/gapki.id\/en\/?p=21070"},"modified":"2022-01-13T08:50:00","modified_gmt":"2022-01-13T01:50:00","slug":"crude-palm-oil-price-predicted-to-stay-high-in-2022","status":"publish","type":"post","link":"https:\/\/gapki.id\/en\/news\/2022\/01\/13\/crude-palm-oil-price-predicted-to-stay-high-in-2022\/","title":{"rendered":"Crude Palm Oil Price Predicted To Stay High in 2022"},"content":{"rendered":"<p>JAKARTA \u2013 \u00a0The Indonesian Palm Oil Association (GAPKI) Deputy Chairman Togar Sitanggang said that the price of crude palm oil (CPO) is predicted to stay high during the year of 2022.<!--more--><\/p>\n<p><a href=\"https:\/\/gapki.id\/en\/news\/19725\/ppks-palm-oil-production-to-reach-53m-tons-this-year\/feature-palm-oil-africa_ensia-com\" rel=\"attachment wp-att-19726\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-19726\" src=\"https:\/\/gapki.id\/en\/allies-en\/uploads\/2021\/01\/feature-palm-oil-africa_ensia.com_.jpg\" alt=\"\" width=\"767\" height=\"458\" data-id=\"19726\" srcset=\"https:\/\/gapki.id\/en\/dir-site\/uploads\/2021\/01\/feature-palm-oil-africa_ensia.com_.jpg 767w, https:\/\/gapki.id\/en\/dir-site\/uploads\/2021\/01\/feature-palm-oil-africa_ensia.com_-300x179.jpg 300w\" sizes=\"auto, (max-width: 767px) 100vw, 767px\" \/><\/a><\/p>\n<p>According to him, the CPO price is potential to stay around US$ 1,000 per ton, although there is also a possibility to decrease if compared to that of 2021.<\/p>\n<p>\u201cWe predict the CPO price will stay high. But there is also potential impact to the economy that should be anticipated. For example, if the CPO price increases then its derivative prices will also increase. Moms should anticipate the potential increase of cooking oil price,\u201d Togar said during a public discussion in Jakarta on Thursday, 23 December 2021.<\/p>\n<p>At the same occasion, the Association of Indonesian Agricultural Economy (Perhepi) Chairman Bustanul Arifin said that during the last year the CPO price was not stable.<\/p>\n<p>The CPO price spike up to US$ 1,300 per ton was driven by seasonal factors. \u201cThe price in 2022 will stay over US$ 1,000 per ton. \u201cMaybe Indonesia has become the truly market market leader, no longer Rotterdam, despite the fact that it was driven by biofuel production. The CPO price has been also driven by the government policy on biofuel,\u201d said Bustanul.<\/p>\n<p>Bustanul said that in 2022 palm oil prospects remain bright and CPO production will increase along with the increase of its consumption for foods, industries and biofuel.<\/p>\n<p>\u201cIn 2022, CPO producers will be facing a new challenge, which is inflation. But overall, the outlook for palm oil industry remains bright in 2022,\u201d he said.<\/p>\n<p>PT Nusantara Sawit Sejahtera\u2019s Commissioner Robiyanto, who also addressed the public discussion, said that the palm oil prospects have indicated that there is still an opportunity to increase the local consumption of palm oil. \u201cIt is particularly possible for the downstream industry players who have a big potential to grow further,\u201d he said.<\/p>\n<p>He said that producers have taken the opportunity of price increase since early this year and it is projected to continue during 2022 to support their business expansion through the initial public offering (IPO) at the capital market.<\/p>\n<p>\u201cIPO target was set at Rp 2 trillion, which will be used to expand palm oil businesses, such as development of mills, intensification and replanting programs,\u201d said Robiyanto. (*)<\/p>\n<p>Source: tribunnews.com | Featured image via <em>ensia.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JAKARTA \u2013 \u00a0The Indonesian Palm Oil Association (GAPKI) Deputy Chairman Togar Sitanggang said that the price of crude palm oil (CPO) is predicted to stay high during the year of 2022.<\/p>\n","protected":false},"author":1,"featured_media":19726,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","neve_meta_reading_time":"","footnotes":""},"categories":[3710,3708,3709],"tags":[],"class_list":["post-21070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-info-activity","category-publication","category-recent-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.2 - 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