PALMOILMAGAZINE, JAKARTA – As quoted from Minister of Trade, the Government decided Crude palm oil (CPO) reference price for duty and tariff at Palm Oil Plantation Fund Management Agency or known as export tax on 1 – 15 September 2023 which is US$ 805,20/metric ton (MT). The numbers decreased US$ 5,15 or 1,85 percent from those on 16—31 August 2023.
CPO price at Malaysia Derivatives Exchange got cheaper on Monday, (4/9/2023), or decreased after other vegetable oils got cheaper in Dalian Commodity Exchange.
As quoted from Reuters, CPO reference contract with the code FCPOc3 for November 2023 delivery at Malaysia Derivatives Exchange decreased RM 40 or about 0,99% to be RM 4,000 ringgit (US$ 859,66) per metric ton.
Soyoil contract at Dalian with the code DBYcv1 decreased 0,57%, CPO contract with the code DCPcv1 did too 1,24%. Soyoil price at Chicago Board of Trade BOcv1 was flat to trade.
CPO has something to do with other vegetable oil price because they compete to get part of vegetable oil markets globally.
Cargo surveyor – Intertek Testing Services said, palm oil exports from Malaysia in August decreased 3% to be 1.201.488 tons from 1.238.438 in July. AmSpec Agri, reported that palm oil exports from Malaysia decreased 0,4% to be 1.171.998 tons, from July that reached 1.176.912 tons. (T2)
