InfoSAWIT, KUALA LUMPUR –Crude palm oil (CPO) price at Bursa Malaysia Derivative Exchange could be decreasing because of the higher prediction on nex Sunday.
Palm oil trader, David Ng said, the prospect would be bearish because of the higher CPO prediction claimed by Southern Peninsula Palm Oil Millers' Association (SPPOMA) and Malaysian Palm Oil Association (MPOA).
“We hope it could be about RM 5.000 and RM 5.800 per ton,” he said, as quoted from Bernama.
In this week which just ended, CPO at Bursa Berjangka Malaysia was mostly decreasing when some worried that the demands would decrease after Indoensia revoked CPO and its derivative export ban and the higher production in the next few weeks.
As quoted from The Star, compared to Friday to Friday, the spot price in July 2022 could be decreasing RM 464/ton to be RM 5.679 per ton, in August 2022 it could be decreasing RM 396/ton to be RM 5.524 per ton, in September 2022 it could be decreasing RM 312/ton to be RM 5.454 per ton, in October 2022 it could be cheaper RM248 to be RM5 ,429 per ton, in November 2022 it could be decreasing RM 225/ton to be RM 5.440 per ton and in December 2022 it could be cheaper RM 159/ton to be RM 5.460 per ton. (T2)