InfoSAWIT, JAKARTA – Crude palm oil (CPO) contract price at Malaysia Derivatives Exchange decreased on Thursday, (16/11/2023) for soyoil got cheaper at Chicago Board of Trade.

As quoted from Reuters, CPO reference contract price with the code FCPOc3 for January 2024 delivery at Malaysia Derivatives Exchange decreased RM 9 per ton or about 0,22% to be RM 4,009 (US$ 851,17) per metric ton in the early session.

Soyoil contract price at Chicago Board of Trade with the code BOcv1 decreased 0,57%. Soyoil contract price at Dalian Exchange with the code DBYcv1 increased 0,66%. CPO contract price with the code DCPcv1 increased 0,71%.

The cheaper soybean delivered impacts to the cheaper soyoil that competed with palm oil to get vegetable oil trade in the globe.

The Government of Indonesia planned to decide CPO reference price to be US$ 750,54 per metric ton on 16 - 30 November or increases from the first 15 days in November that was US$ 748,93 per ton.

Still from Reuters, palm oil in vegetable oil trade in Europe increased for the second day in a row on Wednesday with the increasing contract price. It happened for other vegetable oil got more expensive. CPO was about US$ and US$ 30 per ton to increase.

Independent inspection company - AmSpec Agri mentioned, palm oil exports from Malaysia on 1 - 15 November increased 6,4% to be 645.590 tons compared to on 1 - 15 October that reached 606.980 tons. Cargo surveyor - Societe Generale de Surveillance predicted that palm oil exports from Malaysia on 1 - 15 November reached 602.510 metric tons. (T2)