InfoSAWIT, KUALA LUMPUR – Many predicted the crude palm oil (CPO) price in the world in 2019. Speaking in the Palm & Lauric Oils Price Outlook Conference & Exhibition 2019, Thomas Mielke of the Oil World predicted it also.

In his analysis, the CPO would be better for some several months to go within the average about RM 2.350 to RM 2.450/ton. But he said that it is quite reasonable knowing that the stocks are abundant though there are increasing demands in the world too.

“There would be better price. But it would be in 2020. But it is slightly increasing in this year,” he said as quoted from The Edge Markets.

The world production itself would be slow about 2,8 million tons in 2019 from its production in 2018 that reached 4,2 million tons. This would make chance to the deficit stocks.

The palm oil production in 2019 globally could be 75,26 million tons from the previous year that could reach 72,48 million tons. “The productions in Malaysia could increase 0,6 million tons to be 20,1 million tons after decreasing about 0,4 million tons in 2018,” he said.

Besides the production, it needs to see the other factors that could influence the increasing and decreasing price of the CPO in the world. “Just like the trade negotiation between China and USA,” he said. (T2)