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CPO Price at Malaysian Exchange Got Cheaper on Friday (11/08)



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CPO Price at Malaysian Exchange Got Cheaper on Friday (11/08)

InfoSAWIT, KUALA LUMPUR – Crude palm oil (CPO) price at Bursa Malaysia Derivative Exchange got cheaper for the third session, Friday (11/8/2023), as other vegetable oils did too. This would be the third weekly losses.

As quoted from Reuters, CPO reference contract with the code FCPOc3 for October 2023 delivery at Bursa Malaysia Derivatives Exchange decreased RM 30 or about 0,80% to be at RM 3.698 (US$ 807,95) per metric ton during the session.

The increasing CPO exports to India happened for it was more economic than other vegetable oils, such as, soyoil and sunflower. This would help to cut off palm oil stocks in Malaysia.

As Cargo Surveyor Intertek Testing Services and independent inspection company, AmSpec Agri Malaysia reported, palm oil exports from Malaysia on 1 - 10 August increased between 5,9% and 17,5%.

Still from Reuters, soyoil contract price at Dalian with the code DBYcv1 decreased 0,51%, CPO contract price with the code DCPcv1 did too 0,99%. Soyoil at Chicago Board of Trade BOc2 increased 0,05%.

Palm oil has something to do with other vegetable oil price because the compete to get part in vegetable oil markets globally. (T2)

 

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