CPO futures extend gains in anticipation of lower production

A file photo of a worker collecting palm oil fruit at a factory in Sepang, on Feb 18, 2014. – Reuters

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives extended gains to close higher, amid expectation of lower production in the coming weeks, a dealer said.

Phillip Futures Sdn Bhd derivatives product specialist David Ng said, however, the rise yesterday was capped by sluggish exports demand, which saw the distant month trade lower.