The price of CPO in Malaysia commodity exchange on trading Tuesday afternoon(12/01) the observed decline. CPO price drop depressed the currency strengthening Ringgit Malaysia.
Rising commodity prices caused the Ringgit being traded in these currencies became relatively more expensive for buyers abroad. Its impact demand down sharply. Observed this afternoon USDMYR exchange rate was at negative position down-0.41% at 4.4047, this means going on the strengthening of the Ringgit against the u.s. dollar.
CPO prices for March 2016 which is the most active contract on the exchange of commodities Malaysia today looks experience attenuation. Contract price March 2016 which is the most active contracts decreased by-9 ringgit and traded on the position of 2389 ringgit per tonne.
Forexchair.comr estimated that the price movement of CPO futures onthe next trade will still be influenced by the movement of the ringgit currency and global supply and demand conditions. Crude oil prices also provided a strong influence towards the price movement of CPO.
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