07 Dec 2015
In a trade at 10.23 WIB, February 2016 CPO futures traded on Bursa Malaysia, opened 1.94% higher to RM2,412 per ton or Rp7.78 million a ton.
The commodity was traded between RM2,401-RM2,420 per ton early in the trade. At 10.25 WIB, CPO price rose 1.73% to RM2,407 per ton.
The palm oil price moved along with rally in soybean oil price in the Chicago commodity exchange. Soybean oil last week rose 10.32% to US$32.08/pound and today rose 0.69% to US$32.30/pound.
Soybean oil is a major substitute for CPO in the production of products for retail industry. The soybean oil price in the US is driven by the increasing demand for biodiesel.
February 2015 CPO Futures Price Movement
Date | Level | Change |
| 7/12/2015(10.25 WIB) | 2.407 | +1,73% |
4/12/2015 | 2.366 | +0,08% |
3/12/2015 | 2.364 | +1,42% |
2/12/2015 | 2.331 | -0,34% |
1/12/2015 | 2.339 | -0,21% |
© Inacom. All Rights Reserved.
EN
