InfoSAWIT, JAKARTA – Crude palm oil (CPO) price at Bursa Malaysia Derivatives Exchange increased for the third session in a row on Wednesday (23/11/2022), as same as other vegetable oil and crude oil got more expensive at Dalian while ringgit currency got cheaper.
As quoted from Reuters, CPO reference price at FCPOc3 for February 2023 delivery at Bursa Malaysia Derivatives Exchange got better 1,20% to be RM 4.052 per ton in the early session which extended the increasing 4,19% in the two prior sessions.
Soyoil contract at Dalian DBYv1 increased 0,22%, CPO contract at DCPv1 did increase 1,44%. Soyoil price at Chicago Board of Trade BOc2 decreased 0,21%.
CPO has something to do with other vegetable oil price because they compete to get parts in vegetable oil markets in the globe.
Reuters’ technical analyst, Wang Tao noted, CPO could be at RM 3.922 ringgit per ton but it would be possible to be better at RM 3.994 – RM 4.072 per ton. (T2)
