palm-oil-mill

Malaysian palm oil price ends slightly higher on weaker ringgit

  • Oct 29, 2016

Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended slightly higher Friday, supported by mild buying, a dealer said.

The dealer said the commodity was lifted by the weakening ringgit, which was quoted at 4.1970/1020 to the greenback from the 4.1810/1900 recorded on Thursday.

It was reported that the benchmark palm oil futures for January 2017 on the Bursa Malaysia Derivatives Exchange closed the week’s trade 0.07 per cent higher at RM2,788 (US$664.52) a tonne.

Traded volume stood at 28,177 lots of 25 tonnes each.

At the close, November 2016 and December 2016 remained at RM2,790 a tonne respectively, while January 2017 and February 2017 were RM2 better at RM2,788 a tonne and RM2,785 a tonne respectively.

Turnover fell to 28,177 lots from 55,748 lots on Thursday. Open interest declined to 221,243 contracts from 239,474 contracts.

On the physical market, November South gained RM10 to RM2,820 per tonne. – BERNAMA

Source: http://www.thestar.com.my/business/business-news/2016/10/29/palm-oil-price-ends-slightly-higher/