MARKET DEVELOPMENT
Crude Palm Oil Climbs to June 2014 High
Crude Palm Oil Climbs to June 2014 High
30/12/2015 (The Star) - Crude palm oil (CPO) for March delivery rose to RM2,497 per tonne in late Tuesday trade, tracking the gains in soybeans.
At 4pm, it was up RM43 to RM2,497.
The FBM KLCI rose 12.06 points or 0.72% to 1,682.79. Turnover was 1.67 billion shares valued at RM1.29bil. There were 413 gainers, 404 losers and 348 counters unchanged.
CPO prices were set to track external markets while investors look for fresh leads, Bloomberg quoted Josephine Goh, associate director of futures and commodities at RHB Investment Bank.
March soybean oil rose 1.5% to 30.88 cents per pound on CBOT; March soybeans added 0.9% to US$8.68 3/4 per bushel.
However, Bloomberg quoted Goh saying that sluggish exports continue to weigh on investor sentiment. Malaysia palm oil exports during Dec. 1 to 25 fell 15.8% on-month to 1.01 million tonnes.
At 4pm, it was up RM43 to RM2,497.
The FBM KLCI rose 12.06 points or 0.72% to 1,682.79. Turnover was 1.67 billion shares valued at RM1.29bil. There were 413 gainers, 404 losers and 348 counters unchanged.
CPO prices were set to track external markets while investors look for fresh leads, Bloomberg quoted Josephine Goh, associate director of futures and commodities at RHB Investment Bank.
March soybean oil rose 1.5% to 30.88 cents per pound on CBOT; March soybeans added 0.9% to US$8.68 3/4 per bushel.
However, Bloomberg quoted Goh saying that sluggish exports continue to weigh on investor sentiment. Malaysia palm oil exports during Dec. 1 to 25 fell 15.8% on-month to 1.01 million tonnes.