InfoSAWIT, KUALA LUMPUR – Crude palm oil (CPO) reference price at Bursa Malaysia Derivatives Exchange got cheaper on Thursday (27/4/2023) for fifth session in row. It hit the lowest level for the past one month because of the cheaper other vegetable oils.

As quoted from Reuters, CPO reference price with the code FCPOc3 for July 2023 delivery at Bursa Malaysia Derivatives Exchange got cheaper RM 44 or about 1,23%, to be RM 3.526 (US$ 791,47) per ton during the session. It was the lowest level since 27 March 2023.

Head of Trade Policy Agency or Badan Kebijakan Perdagangan (BK Perdag) Ministry of Trade, Kasan said after lebaran, the government of Indonesia would publish policy to control palm cooking oil supply in this country by applying domestic market obligation (DMO) which was 450 thousand tons per month to be back at 300 thousand tons per month.

“The government is about to decrease basic multiplier ratio in export from 1:6 to be 1:4. It would be effective on 1 May 2023,” Kasan said in “Media Briefing Perubahan Kebijakan Pengendalian Minyak Goreng Pasca - Lebaran 2023”, Thursday (27/4/2023) in Jakarta, as in the official statement to InfoSAWIT

According to Reuters, soyoil contract at Dalian with the code DBYcv1 got cheaper 0,1%, CPO contract with the code DCPcv1 did too 1,1%. Soyoil price at Chicago Board of Trade BOcv1 decreased 0,3%. (T2)