InfoSAWIT, JAKARTA – Crude palm oil (CPO) contract price at Malaysia Derivatives Exchange increased on Friday (8/12/2023). It happened for other vegetable oils got more expensive and it stopped the decreasing price for five sessions in the previous.
As quoted from Reuters, CPO reference contract price with the code FCPOc3 for February 2024 delivery at Malaysia Derivatives Exchange got more expensive RM 48 per ton or about 1,30% to be RM 3,750 (US$ 803,86) in the midday. But CPO price decreased 3,20 percent in this week.
The traders were predicted to get profits before the end of this week while waiting for data from Malaysian Palm Oil Board that would be published on 12 December 2023.
Still from Reuters, soyoil contract price at Dalian with the code DBYcv1 increased 1,82%, CPO contract price with the code DCPcv1 also increased 2,62%. Soyoil price at Chicago Board of Trade BOc2 increased 0,16%.
Palm oil has something to do with other vegetable oil price because they compete to get part in palm oil trade globally.
Malaysia ringgit, the official currency in palm oil trade got increased 0,15% towards US dollar and made palm oil more interesting for those that traded in foreign currency. (T2)
