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CPO Price at Malaysia Exchange Increased RM 21 Per Ton on Friday (24/8)



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CPO Price at Malaysia Exchange Increased RM 21 Per Ton on Friday (24/8)

InfoSAWIT, JAKARTA - Crude palm oil (CPO) contract price at Malaysia Derivatives Exchange increased on Friday (24/8/2023) and that was the second weekly increasing price in a row. It also happened for other vegetable oils that got more expensive.

As quoted from Reuters, CPO reference contract price with the code FCPOc3 for November 2023 delivery at Malaysia Derivatives Exchange increased RM 21 or about 0,54% to be RM 3,902 (US$ 839,14) per metric ton in the early session. For this week, CPO contract price increased about 1%.

Until now palm oil has something to do with other vegetable oil price because they compete to get part of vegetable oil markets globally.

Still from Reuters, soyoil contract price at Dalian Exchange with the code DBYcv1 increased 1,76%, CPO contract price with the code DCPcv1 did increase 0,73%. Soyoil price at Chicago Board of Trade BOc2 did too 0,44%.

Indonesian Palm Oil Association (IPOA) reported that June 2023 palm oil exports reached 3,45 million tons or increased 54,7% compared to May 2023 exports that reached 2,23 million tons. The biggest numbers were crude palm oil (CPO) derivative products that reached 2,48 million tons or increased 52,4% from those in May 2023 that reached 1,63 million tons. (T2)

 


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