InfoSAWIT, SINGAPORE –Crude palm oil (CPO) price at Malaysia Derivatives Exchange got decreased to the lowest level in the past three months, on Friday, (22/9/2023). It seemed it would be the third weekly losses in a row because other vegetable oils got cheaper but it was the same with the increasing exports.

As quoted from Reuters, CPO reference contract with the code FCPOc3 for January 2023 delivery at Malaysia Derivatives Exchange increased RM 7 per ton or 0,2% to be RM 3,686 (US$ 786,77) per metric ton. This week, CPO price decreased 2,6%.

Cargo surveyor - Intertek Testing Services noted that palm oil exports from Malaysia on 1 - 20 September increased 2,4% compared to August in the same period. Independent inspection company - AmSpec Agri Malaysia noted palm oil exports from the country in the same period increased 1,8%.

Still from Reuters, soyoil contract price at Dalian with the code DBYcv1 decreased 1%, CPO contract price with the code DCPcv1 also decreased 0,3%. Soyoil price at Chicago Board of Trade BOcv1 increased 0,4%.

Palm oil has something to do with other vegetable oil price because they compete to get part in vegetable oil trade globally. (T2)