InfoSAWIT, JAKARTA - Crude palm oil (CPO) contract price at Malaysia Derivatives Exchange was on the floor cheaper on Tuesday (19/9/2023), extended the loss for the second session because other vegetable oils got cheaper.
As quoted from Reuters, CPO reference contract price with the code FCPOc3 for December 2023 delivery at Malaysia Derivatives Exchange got cheaper RM 43 per ton or about 1,15% to be RM 3,706 (USD 790,36) per metric ton in the early trade.
Soyoil price at Dalian with the code DBYcv1 decreased 1,68%, CPO contract price with the code DCPcv1 did decrease 1,47%. Soyoil price at Chicago Board of Trade BOc2 did too 0,62%.
Palm oil has something to do with other vegetable oil price because they compete to get parts in vegetable oil markets globally.
Technical analysis of Reuters, Wang Tao said, CPO with the code FCPOc3 could be in the lowest level like it was on 12 September at RM 3,667 per ton because the fluctuation time has been over. (T2)
