InfoSAWIT, JAKARTA – Crude palm oil (CPO) price at Bursa Malaysia Derivatives Exchange got cheaper for the second day on Friday (2/12/2022) because of the better ringgit towards US dollar and other vegetable oil price got cheaper. It is predicted, in next week CPO would be also cheaper.

As quoted from Reuters, CPO contract at FCPOc3 for February 2023 delivery at Bursa Malaysia Derivatives Exchange got cheaper 1,67% to be RM 4.010 (US$ 913,44) per ton in the early session. For information in the past week, CPO price got cheaper 3,16%.

Soyoil price at Chicago Board of Trade BOc2 got cheaper 0,76% on Friday, it extended the decreasing price after in the previous day, it hit the highest number since July. soyoil contract at Dalian DBYv1 got cheaper 2,53%, CPO contract at DCPv1 did decrease 3,49%.

CPO price has something to do with other vegetable oil price because they compete to be part of vegetable oil trade in the globe.

The decreasing price of sunflower toward soyoil got extended in the past week to the highest level for more than 9 months because the exporters in Ukraine and Russia aggressively offer oil to minimize their stocks, as industrial officer said to Reuters. (T2)