Rising stockpile to keep CPO prices under pressure

Malaysian palm oil futures saw their sharpest fall in seven weeks on Friday evening, weighed down by weak export demand and losses in related edible oils on the U.S. Chicago Board of Trade and China's Dalian Commodity Exchange.

PETALING JAYA: Crude palm oil (CPO) prices are expected to stay under pressure, given the rising stockpile and weaker export outlook on the back of a stronger ringgit against the US dollar situation, say analysts.

The third-month benchmark CPO futures for September hit a two-year low in early trade before closing at RM2,259 per tonne yesterday.