CPO PRICE OCTOBER 6: Further Weakening, Still Affected by Soybean Oil Price

The December 2016 CPO futures contract, the most active contract on Bursa Malaysia, fell 0.63% or 16 points to RM2,540 (US$621.87) per ton at 10:19 WIB.

This morning, CPO opened lower at RM2,556 per ton after closing 1.69% or 44 points lower in yesterday's trading session.

This decline was still influenced by the correction in soybean oil prices.

Tasvinderjit Singh, associate director at CIMB Futures, said that the decline in CPO prices followed the movement in soybean oil prices, which were triggered by concerns over lower export values and increased supply.

“There is no catalyst to lift the market,” he said, as quoted by Bloomberg, Wednesday (5/10/2016).