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26 Jul 2016

CPO PRICE ON MAY 26: Closing with 1.38% Surge, Driven by Global Oil Prices

CPO PRICE ON MAY 26: Closing with 1.38% Surge, Driven by Global Oil Prices


August 2016 CPO futures, the most active contract on Bursa Malaysia, opened 0.24% or 6 points higher this morning at MYR2,551 per ton and was still seen moving at the same level at 09:57 WIB.


After moving in the range of MYR2,545-2,595 per ton, the commodity price closed 1.38% higher at MYR2,580 per ton.


In the previous trading of Wednesday (25/5/2016), the CPO price closed with a sharp increase of 1.72% or 43 points to MYR2,545 per ton, after opening with a stagnant movement.


The strengthening of the palm oil price in the beginning of today's trading is in line with the global crude oil price surge since last night approaching the range of US$50 which has also driven the commodity movement.


August 2016 CPO Contract Price Movement




































Date



Level



Change



26/5/2016



2,580



+1,38%



25/5/2016



2,545



+1,72%



24/5/2016



2,502



+0,40%



23/5/2016



2,492



-1,42%



20/5/2016



2,528



+0,36%



Source: Bloomberg
Editor : Bunga Citra Arum Nursyifani
http://market.bisnis.com/read/20160526/94/551723/harga-cpo-26-mei-ditutup-melonjak-138-terpacu-harga-minyak-global

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