KUALA LUMPUR, Jan 16 — Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives (BMD) rebounded from last week’s decline to end marginally higher today, as bargain...
KUALA LUMPUR, Jan 16 — Crude palm oil futures contract on Bursa Malaysia Derivatives rebounded from last week’s decline to end marginally higher today, as bargain hunting emerged due to the recent sell-down following a sluggish export pace, dealers said.
Another cargo surveyor Amspec said exports dipped 36.37 per cent to 401,749 tonnes against 631,401 tonnes previously. “There is still a cloud of uncertainty hanging over the production prospects in Malaysia,” he told Bernama, adding there are talks that Malaysia may restrict or even halt palm oil export to European Union in retaliation for EU’s policy of restricting South Asian palm oil import due to alleged deforestation.
“Poor export data, a stronger ringgit and losses in soybean oil restrained CPO futures from building a strong buying momentum,” he said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MetMalaysia keluar amaran ribut petir di 9 negeri | The Malaysian InsightIni melibatkan Kedah, Pulau Pinang, Perak, Pahang, Selangor, Kuala Lumpur, Negeri Sembilan, Johor dan Sarawak.
Read more »
Cabinet ministers with ‘Happy Ponggal’ to Tamil communityKUALA LUMPUR: Several Cabinet ministers wish 'Happy Ponggal” to the Tamil community celebrating the harvest festival.
Read more »