InfoSAWIT, JAKARTA –Crude palm oil (CPO) price at Bursa Malaysia Derivative Exchange got better on Tuesday (22/11/2022). It could be the sign to increase after it hit the lowest level in the past one month. It also happened for the increasing exports and the decreasing ringgit currency that escalated the price.
As InfoSAWIT quoted from Reuters, CPO reference contract at FCPOc3 for February 2023 delivery at Bursa Malaysia Derivatives Exchange increased 1,95% to be RM 3.930 (US$ 859,02) per ton in the early session. The previous contract, it hit the lowest level since 17 October.
Cargo surveyor, Societe Generale de Surveillance reported that palm oil product exports from Malaysia on 1 - 20 November increased 8,1% from the previous month while AmSpec Agri Malaysia reported, the increasing exports reached about 2,9%.
Still from Reuters, soyoil oil contract at Dalian DBYv1 decreased 0,64%, CPO contract at DCPv1 increased 1,05%. Soyoil price at Chicago Board of Trade BOc2 increased 0,79%. (T2)
