InfoSAWIT, KUALA LUMPUR – Crude palm oil at Bursa Malaysia Derivatives Exchange got cheaper for the fourth session in a row, Wednesday (26/4/2023). It hardly reached the lowest level in the past nine days. It might happen for the weak exports and other vegetable oils which got cheaper.
As quoted from Reuters, CPO reference price with the code FCPOc3 for July 2023 delivery at Bursa Malaysia Derivatives Exchange got cheaper RM 22 per ton or about 0,61% to be RM 3.613 (US$ 810,27) during the trade.
According to the report of AmSpec Agri Malaysia, exports from Malaysia on 1 - 25 April decreased 18,4% from the previous month while data from Intertek Testing Services reported that the exports decreased 14%.
Still from Reuters, soyoil contract at Dalian within the code DBYcv1 increased 0,3%, CPO contract within the code DCPcv1 did increase 0,11%. Soyoil price at Chicago Board of Trade BOcv1 did too 0,5%.
Refinitiv Agriculture Research mentioned that the cheaper CPO might happen for the worry of interest rate at Federal Reserve USA which could impact to the decreasing demands globally. (T2)
