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CPO Price at Malaysian Exchange in the Second Quarter of 2023 Increased More Than 2 Percent



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CPO Price at Malaysian Exchange in the Second Quarter of 2023 Increased More Than 2 Percent

InfoSAWIT, KUALA LUMPUR – Crude palm oil (CPO) contract price at Malaysia Derivatives Exchange got impressive achievement in the second quarter of 2023 that increased more than 2 percent in a whole. In November the most liquid CPO hit the resistant level at RM 4.000 per ton and closed at RM 4.010 per ton. It hit the highest level for the past four weeks.

As InfoSAWIT quoted from Palm Oil Analytics, the main factors that increased it could be cash trade which was very active and cheaper purchase. The combination of the factors successfully got market interests and made it more expensive and extended the increasing trend before it started.

“One interesting point in the report was that 10 RDB olein trades were in free on board (FOB) Malaysia. This meant, the transaction would be the most in this year and the markets were enthusiastic significantly on this commodity.

The increasing CPO contract price also showed that palm oil industries still have potential though challenges are ahead and the markets are in fluctuation still. The increasing trade activity and positive response from the cheaper purchase created positive situation in the markets, delivered chanced for industries to get bigger profits. (T2)


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