MUMBAI –Crude palm oil (CPO) price increases 8,5% in this month. It is mentioned in a report saying that it happens for the decreasing CPO in Malaysia for the bad weather.
In the benchmark Malaysian stock exchange, as quoted from Business Standard, Wednesday (11/2), CPO price for March delivery increases up to 2.306 ringgit per ton from125.50 ringgit per ton by the end of January.
However, the increasing CPO price could reduce the industrial user margin, including the soap and detergent producers.
“CPO is back to its trail in last few days. It is potential to increase the demand from Indonesia and decrease the production from Malaysia,” Managing Director of Commodity Kedia Comtrade, Ajay Kedia said. (T3)
