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CPO Price at Bursa Malaysia Got Decreasing After Four Days in row Increased



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CPO Price at Bursa Malaysia Got Decreasing After Four Days in row Increased

InfoSAWIT, JAKARTA – Crude palm oil (CPO) price at Bursa Malaysia Derivative Exchange on Thursday (25//8/2022) decreased after four days in a row increased. The investors still waited for export data on 1 - 25 August from cargo surveyor to know what to do.

CPO reference contract at FCPOc3 for November 2022 delivery at Bursa Malaysia Derivatives Exchange decreased 1,28% to be RM 4.253 (US$ 949,33) per ton in the early session. Prior, CPO contract increased about 6,64% in the four sessions.

As quoted from Reuters, cargo surveyor would release data of CPO exports from Malaysia on 1 - 25 August on Thursday (25/8). But the export data on 1 - 20 August claimed two prediction, some said, they decreased in every month, some said, they increased.

Soyoil price contract at Chicago Board of Trade BOc2 increased 0,79%, soyoil contract at Dalian DBYv1 did too 0,85% and CPO contract at DCPv1 did too 0,09%.

The Government of Indonesia through Ministry of Trade planned to extend zero export citation until 31 October 2022. Minister of Trade, Zulkifli Hasan told it on Wednesday (24/8/2022). It is hoped to escalate the export and make smallholders’ fresh fruit bunch more expensive.

Reuters’ technical analyst, Wang Tao noted, CPO could be at RM 4.085-4.350 per ton. (T2)


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