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CPO Price at Malaysia Exchange Got Cheaper RM 6/ton on Monday (14/8)



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CPO Price at Malaysia Exchange Got Cheaper RM 6/ton on Monday (14/8)

InfoSAWIT, KUALA LUMPUR – Crude palm oil (CPO) contract price at Bursa Malaysia Derivatives Exchange got cheaper on Monday (14/8/2023) for the three session in a row. It happened for other vegetable oils got cheaper too though the exports increased more.

As quoted from Reuters, CPO price reference with the code FCPOc3 for October 2023 delivery at Bursa Malaysia Derivatives Exchange got cheaper RM 6 or about 0,16% to be RM 3.711 (US$ 804,81) per metric ton in the session.

Research Head of Sunvin Group, Anilkumar Bagani said, the contract easing in Dalian Exchange, CPO price correction, and the decreasing price of sunflower oil in Black Sea, and cheaper soyoil in South America really encouraged to make CPO much cheaper.

“But the better CPO exports on 1 - 10 August 2023 and the decreasing ringgit still maintained Malaysia’s CPO performance in the future,” he said.

Cargo Surveyor - Intertek Testing Services and independent inspection company - AmSpec Agri reported that CPO exports from Malaysia increased between 5,9% and 17,5% during the period (1 - 10 August 2023).

Soyoil contract price at Dalian with the code DBYcv1 increased 0,34%, CPO contract with the code DCPcv1 decreased 0,57%. Soyoil price at Chicago Board of Trade BOcv1 also increased 0,8%. (T2)


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