09 May 2016
The CPO futures for July 2016, the most active contract in Bursa Malaysia, opened with a significant gain of 1.18% or 31 points at the price of 2,659 per ton in the early trading.
The price of the commodity then sharply increased 1.26% or 33 points to 2,661 ringgit per ton at 10.09 WIB.
At the trading on Friday (6/5/2016), CPO closed with a slight weakening of 0.04% or 1 point to 2,628 ringgit per ton, continuing the weakness in the morning.
The strengthening of the crude palm oil (CPO) price in the early trading is in line with the surge in the crude oil price this morning.
The price of WTI oil for the June contract is significantly up 1.90% to US$45.51 at 10.05 WIB, while the European benchmark for Brent oil for the July contract strengthens 1.37% to US$45.99 per barrel.
Meanwhile, the ringgit exchange rate is seen strengthening in the Asian spot market against the US dollar. The Malaysian currency is appreciated 0.10% to 4.00 ringgit per US dollar.
Price Movement for CPO Contract July 2016
Date | Level | Change |
| 9/5/2016(10.09 WIB) | 2.661 | +1,26% |
6/5/2016 | 2.628 | -0,04% |
5/5/2016 | 2.629 | +0,50% |
4/5/2016 | 2.616 | +3,03% |
3/5/2016 | 2.539 | -2,08% |
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