Price of crude palm oil stays under pressure

Malaysian palm oil futures rose on Tuesday evening, lifted by strength in rival edible oils and as demand expectations improved, traders said.

PETALING JAYA: Crude palm oil (CPO) prices are expected to stay under pressure by the re-imposition of the export tax next month and concerns over the brewing US-China trade war, said analysts.

This is reflected in the third-month benchmark CPO futures contract for June, which was traded RM8 lower at RM2,420 per tonne as at 5 pm yesterday.