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CPO Price at Malaysia Exchange Got Cheaper RM 84 per Ton on Monday (18/9)

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CPO Price at Malaysia Exchange Got Cheaper RM 84 per Ton on Monday (18/9)

InfoSAWIT, JAKARTA – Crude palm oil (CPO) at Malaysia Derivatives Exchange was on the floor cheaper on Monday, (18/9/2023) after it got more expensive for three sessions in a row. This happened because other vegetable oils got cheaper.

As quoted from Reuters, CPO reference contract with the code FCPOc3 for December 2023 delivery at Malaysia Derivatives Exchange got cheaper RM 84 or about 2,19%, to be RM 3,746 (US$ 799,57) per metric ton in the early session. At least, it decreased 1,17% for last week.

Soyoil contract price at Dalian with the code DBYcv1 also got cheaper 1,87%, CPO contract price with the code DCPcv1 did too 2,58%. Soyoil price at Chicago Board of Trade BOc2 also decreased 0,64%.

Palm oil has something to do with other vegetable oil price because they compete to get parts in vegetable oil trade globally.

As quoted from Ministry of Trade Indonesian Republic, CPO reference price would be US$$ 798,83 per ton on 16 - 30 September or cheaper from the previous period. CPO out fee is US$ 33 per ton and levey is US$ 85 per ton. The numbers have no change from the previous period.

Quoting from Bernama, Prime Minister of Malaysia, Anwar Ibrahim said that China plans to escalate palm oil imports that would be 250.000 ton per year.

Independent inspection company, AmSpec Agri Malaysia reported that palm oil exports from Malaysia on 1 - 15 September decreased 9.3% compared to the previous period that reached 574,936 tons only. (T2)