The benchmark October contract of crude palm oil (CPO) advanced RM49 to RM2,663 per ton on the Bursa Malaysia Derivatives Monday (July 20). On Friday last week (July 17) in Rotterdam (Netherlands), CPO edged up to US$630 per ton (CIF) (forward contract for Oct-Dec) to represent 23.5% gain from its recent low. Improvement in palm oil price is essential for Indonesia’s economic recovery.
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