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CPO at Malaysian Exchange Increased RM 9 per Ton on Thursday (30/8)

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CPO at Malaysian Exchange Increased RM 9 per Ton on Thursday (30/8)

InfoSAWIT, SINGAPORE – Crude palm oil (CPO) price at Malaysia Derivative Exchange increased on Wednesday (30/8/2023), helped by other vegetable oils that got more expensive and decreasing ringgit (currency).

As quoted from Reuters, CPO reference contract price with the code FCPOc3 for November 2023 delivery at Malaysia Derivatives Exchange increased RM 9 or about 0,23% to be RM 3,939 (US$ 849,84) per metric tons in the early session.

Soyoil contract price at Dalian exchange with the code DBYcv1 decreased 0,1% while CPO contract with the code DCPcv1 increased 0,6%. Soyoil price at Chicago Board of Trade BOcv1 increased 0,2%.

European Union Commission on Tuesday (29/8/2023) reported that soyoil imports in the continent reached 2,16 million metric tons in 2023/24, increased 10% from 1,96 million tons in the previous year. India could be in monsoon rain, or the rainfall would be decreasing for the past eight years because of El-Nino in September after August 2023 would the driest month for the last one century, as quoted from Reuters

Palm oil has something to do with other vegetable oils because they compete to get parts in vegetable oil markets globally. (T2)