14/03/2014 (Bernama) - Daily turnover for crude palm oil futures contract, the star product on Bursa Malaysia Derivatives, reached a historical high of 71,678 contracts on March 12, 2014.

Yesterday's volume surpassed the previous high of 63,019 contracts recorded on May 16, 2012.

"The volume growth reflects the vibrancy of the Malaysian derivatives market, attributed to increased hedging activities resulting from the volatility and uncertainty seen in the global commodity markets," said Bursa Malaysia in a statement.

Bursa Malaysia Derivatives' CPO futures contract is the global benchmark for the pricing of palm oil and palm oil-based products.