PALMOILMAGAZINE, MUMBAI – The contract price for Crude Palm Oil (CPO) at the Malaysia Derivatives Exchange experienced a 1% decline in Wednesday’s (13/12/2023) trade due to sluggish exports and the reduced cost of soyoil.
According to Reuters, the reference contract price for CPO with the code FCPOc3, scheduled for delivery in February 2024 at the Malaysia Derivatives Exchange, decreased by RM 42 per ton or about 1.12%, reaching RM 3,693 (US$ 785.24) per ton in the early session.
Cargo surveyors have reported that palm oil exports from Malaysia between December 1 and 10 decreased by 4.1% compared to the same period in November.
Also Read :
Malaysian Palm Oil Board (MPOB) informed that palm oil stock by the late of November decreased for the first time in the past seven months because of the decreasing producton while the exports remained stable.
Still from Reuters, soyoil reference contract with the code BOc2 at Chicago Board of Trade increased 0,1% after it decreased 1,4% in the previous session.
Palm oil has something to do with other vegetable oil because they compete to get part in vegetable oil markets globally. (T2)
