CPO PRICE Feb 18: Fluctuates as Soybean, Oils Move in Opposite Directions

CPO futures contract for April 2016, the most actively traded contract on Bursa Malaysia, opened 0.19% higher to a price of 2,618 ringgit per ton.
The commodity initially continued to rise by 0.46% before being pressed down again and traded 0.27% weaker to 2,606 ringgit or Rp. 8.42 million per ton at 10:09 a.m. WIB.
Price movements in Kuala Lumpur fluctuated when CPO's two main substitute commodities, crude oil and soybean oil, moved in opposite directions.
Brent oil was traded 1.01% stronger at US$34.85 per barrel at 10:15 a.m. WIB, after rising 7.21% to US$34.50 per barrel at 10:15 WIB. On the other hand, the price of soybean oil fell 0.4% to US$32.09 per pound, having corrected after increasing 1.19% yesterday.
Price Movement in April 2016 CPO Contract



Date
Level
Change


February 18, 2016(10:09 a.m. WIB)
2.606
-0.27%


February 17. 2016
2,613
+0.97%


February 16, 2016
2.588
-0.42%


February 15, 2016
2.592
-1.78%


February 12, 2016
2.629
+1.27%



Source: Bloomberghttp://market.bisnis.com/read/20160218/94/520258/harga-cpo-18-februari-berfluktuasi-saat-kedelai-dan-minyak-berlawanan