CPO Prices Rebound at Close

KUALA LUMPUR: Crude palm oil (CPO) futures prices rebounded at close yesterday amid mixed views on the market, a dealer said.

He said the recent slump in crude oil prices had caused waning demand in the biodiesel market thus weighing on CPO prices.

Under Budget 2015, Malaysia has extended the tax-free exports of CPO until December this year to support prices and curb the build-up of reserves.

November 2014 rose RM6 to RM2,180 per tonne, December 2014 gained RM6 to RM2,163, January 2015 improved RM9 to RM2,174, while February 2015 was RM5 higher at RM2,180 per tonne.

Volume increased to 51,725 contracts against 37,426 contracts on Monday and open interest rose to 327,179 contracts from 309,034 contracts previously.

On the physical market, October South was RM20 lower at RM2,200 a tonne. Bernama

 

Source : New Straits Times

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