CPO Prices on Malaysia Exchange Drop RM 6/ton on Monday

Palm Oil Magazine
Doc. Palmoilmagazine.com

PALMOILMAGAZINE, KUALA LUMPUR – The price of the crude palm oil (CPO) contract at the Bursa Malaysia Derivatives Exchange decreased on Monday (14/8/2023) for the third consecutive session. Similar price declines were observed in other vegetable oils, despite an increase in exports.

According to Reuters, the reference price for the CPO contract with the code FCPOc3, scheduled for delivery in October 2023 at the Bursa Malaysia Derivatives Exchange, dropped by RM 6 or approximately 0.16%, settling at RM 3,711 (US$ 804.81) per metric ton during the session.

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Research Head of Sunvin Group, Anilkumar Bagani said, the contract easing in Dalian Exchange, CPO price correction, and the decreasing price of sunflower oil in Black Sea, and cheaper soyoil in South America really encouraged to make CPO much cheaper.

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“But the better CPO exports on 1 – 10 August 2023 and the decreasing ringgit still maintained Malaysia’s CPO performance in the future,” he said.

Cargo Surveyor – Intertek Testing Services and independent inspection company – AmSpec Agri reported that CPO exports from Malaysia increased between 5,9% and 17,5% during the period (1 – 10 August 2023).

Soyoil contract price at Dalian with the code DBYcv1 increased 0,34%, CPO contract with the code DCPcv1 decreased 0,57%. Soyoil price at Chicago Board of Trade BOcv1 also increased 0,8%. (T2)

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