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Strong palm oil exports push CPO futures higher at close

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher today on the back of stronger exports, a trader said. According to cargo surveyor Intertek Testing Services’ data for Feb 1-10, exports of Malaysian palm oil products rose 53.94% to 400,375 tonnes from 260,080 tonnes shipped during the same period in January.

Kuala lumpurIntertek testing serviceChicago board of tradeMalaysian palm oil boardBursa malaysia derivativesChicago boardFebruary southகுவாலா லம்பூர்இண்தெற்டேக் சோதனை சேவைசிகாகோ பலகை ஆஃப் வர்த்தகம்மலேசியன் பனை எண்ணெய் பலகைசிகாகோ பலகைபிப்ரவரி தெற்கு

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CPO futures likely to see quiet trading next week

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to see quiet trading next week or retreat on slight profit-taking, with the price to move between RM3,200 and RM3,350 per tonne. Interband Group of Companies senior palm oil trader Jim Teh said investors would likely be on leave for Chinese New Year as early as Jan 9 and resume trading on Feb 15. Most of them would not take oil next week due to the celebration, especially China as they have gotten their stock ahead of the festival, last month,” he told Bernama. Meanwhile, Singapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa said trading is expected to be volatile next week due to a short trading week with more focus on month-end stock for January.

Kuala lumpurSathia varqaMalaysian palm oil associationInterband group of companiesPalm oil analyticsMalaysian palm oil boardBursa malaysia derivativesJim tehChinese new yearSingapore based palm oil analyticsPalm oil associationFebruary southPalm oil exportsகுவாலா லம்பூர்மலேசியன் பனை எண்ணெய் சங்கம்பனை எண்ணெய் பகுப்பாய்வு