KUALA LUMPUR (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives (BMD) extended its rally to closed higher today, hitting a fresh all-time high of above RM4,400 a tonne for the July benchmark contract.
Palm oil trader David Ng said the upbeat performance was due to concerns over weak production and lower stockpile in the country ahead of the Malaysian Palm Oil Board (MPOB) report due out next week which supported the prices of the golden crop.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
