CPO Price at Bursa Malaysia Increased More Than 3%

CPO Price at Bursa Malaysia Increased More Than 3%

InfoSAWIT, JAKARTA – Crude palm oil (CPO) at Bursa Malaysia Derivative Exchange kept increasing. It extended the second session increasing price on Monday (22/8/2022), for other vegetable oils got more expensive too.

CPO reference contract at FCPOc3 for November 2022 at Bursa Malaysia Derivatives Exchange increased 3,79% to be RM 4.248 ringgit (US$ 947.37) per ton in the early session.

As quoted from Reuters, soyoil contract at Dalian DBYv1 did increase 2,10%, CPO contract at DCPv1 did too 3,43%. Soyoil price at Chicago Board of Trade BOc2 increased 0,41%.

CPO price has something to do with other vegetable oil price because they compete to get part of vegetable oil trade in the globe.

CPO exports from Malaysia on 1 - 20 August increased 9,1% to be 728.165 tons from the same period in July 2022, as cargo surveyor, Intertek Testing Services mentioned, Saturday (20/8/2022). In the meantime, independent inspection company, AmSpec Agri Malaysia reported the decreasing reached 3,8%.

Reuters’ technical analyst, Wang Tao noted, CPO could be remaining at RM 4.269 per ton. (T2)