InfoSAWIT, KUALA LUMPUR – Crude palm oil (CPO) contract price at Malaysia Derivatives Exchange hit the lowest level in the past two weeks or Monday (27/11/2023). It happened for the cheaper crude oil and other vegetable oils that were traded in Dalian Exchange though the increasing exports limited the decreasing price.

As quoted from Reuters, CPO contract price with the code FCPOc3 for February 2024 delivery at Malaysia Derivatives Exchange got cheaper RM 26 per ton or about 0,67% to be RM 3,864 (US$ 825,99) per metric ton in the early session. It was the lowest since 17 November 2023.

Independent inspection company - AmSpec Agri Malaysia on Friday noted that palm oil exports from Malaysia on 1 - 25 November 2023 increased 7,2% to be 1,15 million tons from the previous that reached 1,08 million tons on 1 - 25 October 2023.

Cargo surveyor - Intertek Testing Services mentioned on Friday that palm oil exports from Malaysia on 1 - 25 November increased 13,6% to be 1,26 million tons from the previous which reached 1,11 million tons on 1 - 25 October 2023.

Still from Reuters, soyoil contract at Dalian with the code DBYcv1 decreased 0,76%, CPO contract with the code DCPcv1 decreased 1,0%. Soyoil price at Chicago Board of Trade BOcv1 increased 0,5%.

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