Palm Oil Prices Rise by RM 6 Per Ton on Tuesday (12/9) at Malaysia Exchange

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Doc. Palmoilmagazine.com / Aron, the Regent of Sekadau, explained that the District of Sekadau has enacted various regulations to facilitate ISPO implementation.

PALMOILMAGAZINE, JAKARTA – According to the report of Malaysian Palm Oil Board (MPOB), palm oil stock in the country by the late of August increased 22,5% to be 2,12 million tons, the highest numbers for the past seven years.

Crude palm oil (CPO) production increased 8,9% to be 1,75 million tons while palm oil exports decreased to be 1,22 million tons.

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CPO price at Malaysia Derivatives Exchange got more expensive on Tuesday (12/9/2023), after it got cheaper for six sessions. It happened because other vegetable oils got more expensive the day before.

Also Read : CPO Price at Malaysia Exchange Increased RM 32 on Wednesday (6/9)

As quoted from Reuters, CPO reference contract price with the code FCPOc3 for November 2023 delivery at Malaysia Derivatives Exchange increased RM 6 or 0,16%, to be RM 3,719 (US$ 795,85) per metric ton in the midday.

Soyoil contract price at Dalian with the code DBYcv1 decreased 0,51%, CPO contract price with the code DCPcv1 did too 1,53%. Soyoil price at Chicago Board of Trade BOcv1 also decreased 0,53%.

Palm oil is intertwined with the prices of other vegetable oils as it competes for a share in the global vegetable oil markets.

Cargo surveyor – Intertek Testing Services mentioned, palm oil exports from Malaysia on 1 – 10 September decreased 11.2% to the previous month. (T2)

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