CPO futures to surpass RM4,000 level

palm oil factorySingapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa said the CPO futures buying was sparked by a surge in the related soybean oil, which hit limit-up to lock in a 3.59% rise on the Chicago Board of Trade.

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives rallied to post its biggest single-day gain and close at a 31-day high yesterday, with the benchmark July contract hovering above the RM4,000 level.

Singapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa said the CPO futures buying was sparked by a surge in the related soybean oil, which hit limit-up to lock in a 3.59% rise on the Chicago Board of Trade.