CPO Futures Rise on Supply Fears

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives closed firmer yesterday on supply fears, dealers said.

A

dealer said the local CPO stock, which is already at a six-month low,

is expected to decline further due to floods in the southern part of the

country.

“Lingering concerns over tight supply, coupled with

expectations of strong demand especially from China following the

Chinese New Year, is expected to boost prices further,” he added.

February rose RM15 to RM3,925 per tonne, March increased RM23 to

RM3,913, April improved RM22 to RM3,890 and May gained RM21 to RM3,853.

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