InfoSAWIT, JAKARTA – Crude palm oil (CPO) contract price at Malaysia Derivatives Exchange increased on Tuesday (14/5/2024) for the second session in a row as same as soyoil price that increased at Dalian.

As quoted from Reuters, CPO reference contract with the code FCPOc3 for July 2024 delivery got escalated RM 17 per ton or about 0,44% to be RM 3.885 (US$ 821,01) per metric ton in the morning session.

Soyoil contract price at Dalian with the code DBYcv1 got increased 1,10% and CPO contract price with the code DCPcv1 did too 1,93%. Soyoil price at Chicago Board of Trade with the code BOcv1 got decreased 0,8%.

CPO has something to do with other vegetable oil price.

Still from Reuters, US soyoil plantations were planted for about 35% while the five year – average they were planted for about 34% and analytical estimation could be 39%.

Cargo surveyor - Societe Generale de Surveillance (SGS) estimated the exports could be reaching 263,369 metric tons.

Technical analysis of Reuters, Wang Tao predicted, CPO with the code FCPOc3 could be increasing at about RM 3.926 to RM 3.969 per ton. (T2)