InfoSAWIT, JAKARTA – Crude palm oil at Bursa Malaysia Derivatives Exchange extended the loss for the fourth session in row on Friday (28/7/2023) and it is projected that the weekly price could be decreasing because ringgit got better and other vegetable oils got cheaper.

According to Reuters, CPO reference contract with the code FCPOc3 for October 2023 delivery at Bursa Malaysia Derivatives Exchange decreased RM 23 or about 0,22% to be RM 4.039 (US$ 887,69) in the early trade.

Now ringgit Malaysia (MYR) was appreciated 0,71% towards dollar. Ringgit that got better made palm oil less interesting for those who got other currency.

Still from Reuters, soyoil price contract at Dalian with the code DBYcv1 decreased 0,99%, CPO contract with the code DCPcv1 also decreased 2,16%. Soyoil price at Chicago Board of Trade BOcv1 increased 0,27%.

As cargo surveyor, Intertek Testing Services predicted, palm oil exports from Malaysia on 1 - 25 July could be increasing 17,8% compared to the previous month in the same period. While AmSpec Agri Malaysia noted, palm oil exports from Malaysia increased 10,8%. (T2)