The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange fell 0.6 percent at 2,588 ringgit ($637.44) a tonne at the end of trading, a fourth day of losses out of five. Earlier in the session, the contract hit its strongest level since Nov. 24 at 2,625 ringgit. Traded volumes stood at 34,067 lots of 25 tonnes each on Monday evening.
KUALA LUMPUR: UOB Kay Hian Malaysia Research expects all companies under its coverage to register weaker quarter-on-quarter (q-o-q) results on lower fresh fruit bunches (FFB) production and crude palm oil (CPO) average selling prices in the first quarter ended March 31, 2018 (1Q18).
The research house said year-on-year (y-o-y) performances are likely to have been dragged down by the plunge in CPO average selling prices (ASP) despite the FFB production recovery.
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