CPO futures close higher at RM3,518

At the close, the CPO futures contract for December 2020 increased RM37 to RM3,518 per tonne.

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives rebounded from last Friday's losses to end higher today, tracking gains in soybean oil on the Chicago Board of Trade and concerns over tighter supply due to the wet weather, said a dealer.

Palm oil trader David Ng said prices were seen to be supported by the expectation of lower output in the coming weeks which provided a fillip to the market.