PalmOilMagazine, JAKARTA – Cude palm oil (CPO) in the spot - CIF Rotterdam got cheaper US$ 55/ton on 16 June 2021 to be US$ 975,00 or decreased 5,34% compared to the spot on 15 June 2021 which was US$ 1.030/ton. Referring to investing.com, CPO was US$ 1.015/ton in the opening trade but it was US$ 975/ton at the last trade.
Referring to Malaysian Palm Oil Board (MPOB), during in the second week in June 2021, there were some factors influencing the cheaper CPO, such as, the higher production than it in May 2021 because of the good weather and seasonal trend.
The others are the decreasing CPO exports in June 2021 from the major importer countries, Malaysian currency – Ringgit got better to dollar America which made CPO less competitive compared to other kinds of vegetable oil. (T2)
