CPO Price 6 January: Still Depressed at the Beginning of Trading Following Low Demand

The decline in palm oil trade started with a price of 2,429 ringgits per ton or 7.68 million rupiahs per ton earlier this morning, Wednesday (01/06/2016).
Previously, the price of crude oil closed at 08.04 WIB, i.e. 36.42 dollars per barrel or had weakened to 2.15%. In addition, the price of soybean oil also fell 0.54% to 29.65 dollars per pound at 10.56 WIB.
CPO is still experiencing a decline in derivatives although yesterday (01/05/2016) it had shown strengthening to a level of 2,454 ringgits per ton. The CPO future contract for March 2016, a result of low demand from China in the past two weeks.
Price Movement of CPO Contracts March 2016




Date


Level


Change




06/01/2016 (10.53)


2.434


-0.81%




05/01/2016


2.454


+0.74%




04/01/2016


2.436


-1.97%




31/12/2015


2.485


-0.40%




30/12/2015


2.495


+0.44%




Source: Bloomberg
http://market.bisnis.com/read/20160106/94/507412/harga-cpo-6-januari-masih-tertekan-di-awal-dagang-menyusul-rendahnya-permintaan