Crude palm oil futures breach RM3,800 mark

Palm oil trader David Ng said the CPO futures breached above RM3,800 per tonne, the highest level recorded since February 2011, underpinned by an outlook of lower stocks in the country.

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives continued to rally for a third consecutive day today, with the benchmark March 2021 closing at a fresh high of RM3,877 per tonne.

Palm oil trader David Ng said the CPO futures breached above RM3,800 per tonne, the highest level recorded since February 2011, underpinned by an outlook of lower stocks in the country, judging from the Southern Peninsula Palm Oil Millers' Association's (SPPOMA) data.