PALMOILMAGAZINE, SINGAPORE – The Government of Malaysia keeps maintaining CPO export tax in September at 8% though CPO reference price in Malaysia increased.
As quoted from Reuters, soyoil contract price at Dalian with the code DBYcv1 got increasing 2,6%, CPO contact with the code DCPcv1 did too 1,9%. Soyoil price at Chicago Board of Trade BOcv1 decreased 0,1%.
Crude palm oil (CPO) contract price at Malaysia Derivatives Exchange increased on Thursday, (24/8/2023) after it decreased in the previous session. It also happened for other vegetable oils including palm oil got more expensive at Dalian Exchange.
Also Read : Malaysian Exchange’s CPO Price Declines, Bringing Profits to Traders
CPO contract reference with the code FCPOc3 for November 2023 delivery at Malaysia Derivatives Exchange increased RM 86 or about 2,22% to be RM 3,915 (US$ 843,75) per metric ton in the early session. It cut off the losses in the previous session.
Palm oil has something to do with other vegetable oil price because they compete to get part in vegetable oil markets globally. (T2)
