InfoSAWIT, JAKARTA – Crude palm oil (CPO) contract price at Malaysia Derivatives Exchange decreased on Friday (17/11/2023). It stopped the increasing four previous rallies because soyoil got cheaper at Dalian Exchange and Chicago Board of Trade.
As quoted from Reuters, CPO reference contract with the code FCPOc3 for February 2024 delivery at Malaysia Derivatives Exchange decreased RM 81 per ton or about 2,03% to be RM 3,917 (US$ 836,61) per metric ton in the early session.
Soyoil price at Chicago Board of Trade BOcv1 decreased 0,41%. Soyoil contract at Dalian Exchange with the code DBYcv1 decreased 2,17%. CPO price contract with the code DCPcv1 also decreased 2,13%.
The Government of Indonesia decided CPO reference price (RP) to decide out fee and tariff on Public Service Obligation Palm Oil Plantation Fund Management Agency (PFMA) or known as levy on 16 - 30 November 2023 would be US$ 750,54/metric ton (MT). The numbers escalated US$ 1,61 or 0,22 percent from the previous period (1 - 15 November 2023) that was US$ 748,93/MT.
CPO in European vegetable oil markets got decreased on Thursday because CPO got cheaper in Malaysia and soyoil got cheaper in Chicago. CPO that should be increased between US$ 5 per ton and US $ 17,50 per ton.
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 the previous month (1 - 15 October) which just 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)