Plans to expand B10 programme, slash windfall tax lift CPO futures higher

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives extended modest gains on Wednesday due to the government’s plan to expand the B10 biodiesel programme and its proposal to reduce the windfall levy.

These initiatives helped to restore some optimism amid worries over rising supply and losses in soy oil markets, said Mumbai-based Sunvin Group commodity research head Anilkumar Bagani.