The Palm Scribe

Malaysia’s palm oil reserves drag CPO price down

Bisnis Indonesia, 12 February 2019

Malaysia’s palm oil stockpiles fell to 3 million metric tons in January. According to “Bloomberg”, the benchmark crude palm oil (CPO) contract for April delivery on the Malaysia Derivatives Exchange (MDEX) fell 1.05% to 2,266 ringgit per metric ton at closing on Monday (February 11). Meanwhile, the benchmark crude palm oil contract on the Indonesia Commodity Derivatives Exchange (ICDX) fell 0.14% to Rp7,340 per metric ton from Rp7,350 per metric ton in the last week, following a narrow CPO sales volume due to Chinese New Year holiday.

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