Earlier this morning, CPO prices started with a 0.89 percent decline to 2,550 ringgit per ton immediately after the opening of trading.

Last Friday (21/07), CPO prices had ended down 0.12 percent to 2,573 ringgit per ton, while in fact CPO prices had maintained its gains in early trading on Friday, in line with the strengthening of soybean oil and a more positive export picture after posting a strong rally in trading on Thursday (20/7).

As quoted by Bloomberg, CPO prices are facing selling pressures due to higher production expectations, profit-taking after the rally on Thursday, as well as the appreciating Malaysian ringgit.

On Monday morning the Malaysian ringgit strengthened 0.02 percent to 4,2830 per US dollar, after on Friday having appreciated 0.16 percent to 4,2840.

Crude Palm Oil Futures (October 2017 Contracts):

18 July
19 July 20 July
21 July 24 July
 2,513  2,525  2,576  2,573  2,546¹

¹ 11:20 am local Jakarta time
Source: Bisnis Indonesia