InfoSAWIT, ROTTERDAM – Crude palm oil (CPO) price in Europe decreased on Thursday (28/12/2017). It happened for the decreasing CPO price in Malaysian Stock Exchange. The prediction was the profit taking for the better Ringgit Malaysia.
The better Ringgit made CPO price in Malaysia more expensive for the global traders and in the end, it decreased the export demands.
CPO price has no significant change, about US$ 5/ton and it is cheaper in Rotterdam knowing that the CPO price in Malaysia was closed at about 15 to 26 ringgit per ton.
"The decreasing CPO price makes loss for the bigger markets in the exchange. It happens for the better ringgit towards dollar,” a broker said, as quoted fromBusiness Recorder, Thursday (28/12/2017). (T2)