Bad Weather Make CPO Become Expensive
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The contract price of crude palm oil (CPO) rose again in late 2010. There are several factors that led to this increase, such as fear of bad weather that would cut the supply of CPO.
Just so you know, La Nina disrupt the harvest season of CPO in Indonesia and Malaysia. Meanwhile, the drought that hit in North America have an impact on the decline in soybean. "Higher rainfall in palm oil producing countries and the drought in soybean exporting countries push up CPO prices,"said Ker Chung Yang, an analyst at Phillip Futures Pte.
For your information, the CPO price contract for March delivery on the Malaysia Derivatives Exchange rose 1.6 percent to 3725 ringgit or 1204 U.S. dollars per metric ton in Kuala Lumpur. Thus, throughout this year, CPO prices have jumped 39 percent.
Just so you know, La Nina disrupt the harvest season of CPO in Indonesia and Malaysia. Meanwhile, the drought that hit in North America have an impact on the decline in soybean. "Higher rainfall in palm oil producing countries and the drought in soybean exporting countries push up CPO prices,"said Ker Chung Yang, an analyst at Phillip Futures Pte.
For your information, the CPO price contract for March delivery on the Malaysia Derivatives Exchange rose 1.6 percent to 3725 ringgit or 1204 U.S. dollars per metric ton in Kuala Lumpur. Thus, throughout this year, CPO prices have jumped 39 percent.
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