Crude palm oil holds steady above RM2,630, analysts upbeat

KUALA LUMPUR: Crude palm oil (CPO) for third month delivery held above the RM2,630 level late Thursday, after production in Indonesia was seen falling for the first time in 15 years.

At 3.30pm, CPO was down RM1 to RM2,639. Though this was RM14 below the recent year high of RM2,653 on Nov 21, the current price had rallied from the intra-year’s low of RM2,167 on July 29.