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CPO Gets More Expensive for Vegetable Oil Price Does Too Globally



CPO Gets More Expensive for Vegetable Oil Price Does Too Globally

InfoSAWIT, KUALA LUMPUR – According to Malaysian Derivative Exchange, crude palm oil (CPO) price on Monday (29/11) increased again for the increasing vegetable oil price as CPO competitor in the global markets after it was decreasing for the new concern about new variant of corona virus Omicron last week.

CPO contract at FCPOc3 for February 2022 delivery in Bursa Malaysia Derivatives Exchange increased 57 ringgit or about 1,18% to be RM 4.906 (US$ 1.157,89) per ton at noon trade.

As quoted from Nasdaq, Lead Research of Sunvin Group in Mumbai, Anilkumar Bagani said, CPO once got cheaper on Friday last week but kinds of commodity tried to be stable while waiting for actual risk assessment to demand and other aspects because of the spread of new corona virus variant.

The most active soybean contract in Dalian DBYcv1 decreased 0,5%, while palm oil contract in DCPcv1 decreased 0,8%. Soybean in Chicago Board of Trade BOcv1 increased 1,2%.

CPO price was influenced by other vegetable oil price because they compete to get parts of vegetable oil market globally. (T2)