MARKET DEVELOPMENT
CPO futures end mostly higher
CPO futures end mostly higher
07.04.2022 (www.theedgemarkets.com) - KUALA LUMPUR (April 6): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended mostly higher on Wednesday ahead of the Malaysian Palm Oil Board (MPOB) data due out next week.
Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said the market players are also looking for fresh leads and awaiting the release of the Malaysian Palm Oil Association (MPOA) data for March 2022 production.
“The market is also positioning ahead of the release of MPOB data next week as it will provide traders a better picture of the country's stock position and determine their next move in the market,” he told Bernama.
At the close on Wednesday, the CPO futures contract for April 2022 rose RM83 to RM6,664 a tonne, May 2022 decreased RM8 to RM6,301 a tonne, and June 2022 inched down RM3 to RM5,912 a tonne.
Meanwhile July 2022, August 2022 and September 2022 expanded RM17 each to RM5,691 a tonne, RM5,569 a tonne and RM5,523 a tonne, respectively.
Total volume surged to 51,750 lots from Tuesday’s close of 33,968 lots while open interest climbed to 239,537 contracts from 222,269 contracts previously.
The physical CPO price for April South remained unchanged at RM6,650 a tonne.