BMD on defensive mode

"Our BMD’ global benchmark CPO Futures contract (FCPO) achieved a record-breaking trading volume of 16.2 million contracts, equivalent to 405 million tonnes, surpassing its performance in 2021 of 390 million tonnes. This is more than five times the global production,” Abdul Wahid said.

KUALA LUMPUR: Malaysia’s regulatory officials and its global partners in the East and West sought to highlight and reinforce Bursa Malaysia Derivatives’ (BMD) price-setting and discovery role for crude palm oil (CPO) prices.

This guarded defensive tone by the country’s top officials and its partners was heard during the annual Palm and Lauric Oils Conference and Exhibition (POC 2023) as the world’s largest crude palm oil producer Indonesia signals its intent to soon establish its own benchmark pricing for the commodity.