MARKET DEVELOPMENT
Crude Palm Oil Futures Reach Historic High Of 10.98 Mln Contracts In 2015
Crude Palm Oil Futures Reach Historic High Of 10.98 Mln Contracts In 2015
09/03/2016 (Bernama) - Crude palm oil future (FCPO) contracts touched a historic high of 10.98 million contracts last year, surpassing 10.16 million contracts in 2014, said Bursa Malaysia Bhd Chairman, Tan Sri Amirsham A. Aziz.
Daily open interests were also recorded at about 200,000 contracts. He said since their inception in 1980, contracts had become the global price benchmark for the palm oil industry.
"Our FCPO contracts are also becoming increasingly recognised by global industry participants as a hedging instrument against price volatility," he said in his welcoming address at the Palm and Lauric Oils Price Outlook Conference and Exhibition 2016 (POC 2016) here today.
He said the market was also seeing an increasing fresh flow of trades from the US following the approval from the US Commodity Futures Trading Commission for direct market access in the US.
Meanwhile, Bursa Malaysia Chief Executive Officer, Datuk Seri Tajuddin Atan, said the number of FCPO contracts traded last year translated to close to 272 million tonnes of crude palm oil valued at close to RM610 billion.
Themed "Managing Market Uncertainties: Our Global Solution", POC 2016, which started yesterday until tomorrow, attracted more than 2,000 industry drivers from over 50 countries.
The event offered a robust discussions on risk management technique including hedging via FCPO as well as outlook for the market.
Daily open interests were also recorded at about 200,000 contracts. He said since their inception in 1980, contracts had become the global price benchmark for the palm oil industry.
"Our FCPO contracts are also becoming increasingly recognised by global industry participants as a hedging instrument against price volatility," he said in his welcoming address at the Palm and Lauric Oils Price Outlook Conference and Exhibition 2016 (POC 2016) here today.
He said the market was also seeing an increasing fresh flow of trades from the US following the approval from the US Commodity Futures Trading Commission for direct market access in the US.
Meanwhile, Bursa Malaysia Chief Executive Officer, Datuk Seri Tajuddin Atan, said the number of FCPO contracts traded last year translated to close to 272 million tonnes of crude palm oil valued at close to RM610 billion.
Themed "Managing Market Uncertainties: Our Global Solution", POC 2016, which started yesterday until tomorrow, attracted more than 2,000 industry drivers from over 50 countries.
The event offered a robust discussions on risk management technique including hedging via FCPO as well as outlook for the market.