InfoSAWIT, KUALA LUMPUR – Crude palm oil (CPO) price at Bursa Malaysia Derivatives Exchange increased on Friday (4/8/2023). It was decreasing to the lowest level for the past month in the previous session. CPO contract price could be cheaper in weekly period.

As quoted from Reuters, CPO benchmark contract price with the code FCPOc3 for October 2023 delivery at Bursa Malaysia Derivatives Exchange increased RM 45 or about 1,18% to be at RM 3.869 (US$ 851,27) per metric ton during the trade. CPO contract price in this week decreased 3,45%.

The traders still looked for the supply data estimation that Malaysian Palm Oil Board would establish on 10 August 2023 and they would determine the next CPO price.

United States (US) Minister of Foreign Affairs, Antony Blinken on Thursday (3/8/2023) said that the US government would do anything to make sure that Russia could freely export food if there is new agreement including to deliver seed exports from Ukraine through Black Sea safely.

Still from Reuters, soyoil contract at Dalian with the code DBYcv1 increased 0,4%, while CPO contract with the code DCPcv1 decreased 0,03%. Soyoil price at Chicago Board of Trade BOcv1 increased 1,1%.

CPO has something to do with other vegetable oil price because they compete to be part of vegetable oil markets globally. (T2)