Slight rise of CPO futures seen


  • Business Premium
  • Monday, 05 May 2003

Crude Palm Oil 

THE Malaysia Derivatives Exchange (MDEX) crude palm oil (CPO) futures prices held steady during the four-day holiday shortened trading week and closed with minor gains. Light short-covering and speculative buying activities emerged on news that India had reduced custom duty on refined palm oils, causing traders to believe that Indian buyers would switch from CPO to refined palm oils and directly benefiting Malaysia and be negative for Indonesia that is mainly a crude producer.  

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