Low production season boost for CPO prices

Malaysian palm oil edged up on Friday evening for its first gain in four sessions on the back of falling production outlook, after earlier hitting its lowest level since August last year on rising global vegetable oil supplies and weak demand..

PETALING JAYA: Crude palm oil (CPO) prices are expected to stay above RM2,400 per tonne mark in the short-term as most estates nationwide enter low production season from January to February, say analysts.

Yesterday, the third-month benchmark CPO futures for April rebounded to close RM30 higher at RM2,475 per tonne from RM2,445 last Friday.