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CPO and Soybean oil Price is in Competition



CPO and Soybean oil Price is in Competition

InfoSAWIT, JAKARTA – The crude palm oil (CPO) price keeps getting better since the early of this week. It gets more expensive just like soybean oil, as the competitor that gets better too.

As quoted from Bloomberg, Thursday (26/10) at 13.30 WIB, CPO in Malaysia Exchange got better to be 0,32% at RM 2.814 per tonsfrom the previous day. While in the previous week, it got better 3,34%.

According to analyst of PT Monex Investindo Futures, Putu Agus Pransuamitra, in his official statement, the soybean oil for December distribution in Chicago Board of Trade (CBOT) got better 0,4% at US$ 34,39 per tons. The increasing price continued the better one on Wednesday (25/10).

Not only soybean, the positive sentiment was also from the increasing exports in Malaysia. Intertek Testing Service reported, the exports from Malaysia on 1- 25 October reached 1.177.939 tons or increased 8,6% from the previous period. WhileSociete Generale de Surveillancenoted, the exports got better 8,3% on 1-25 October.

“It did too to the potential CPO price that might be about RM 2.790 – RM 2.825 per tonsand it tends to increase too,” he said, as quoted from Kontan. (T3)

 


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