Saturday 20 Apr 2024
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KUALA LUMPUR (Nov 12): Malaysia crude palm oil (CPO) futures for December 2018 fell as much as RM37 or 1.88% to RM1,931 a tonne so far today as markets took cue from Malaysian Palm Oil Board (MPOB) data, which showed the nation's total palm oil stock increased 7.63% to 2.72 million tonnes in October 2018, from 2.53 million tonnes in the preceding month.

Today, Reuters reported that Malaysia CPO futures also tracked weaker related oils on China's Dalian Commodity Exchange.

"Dalian is down this morning, and the market is expecting the MPOB data to be bearish. (In Malaysia,) inventory levels, which are lower than expected, will help support the market for a while, but November and December inventories are still expected to go up," Reuters quoted a Kuala Lumpur-based trader as saying.

At Bursa Malaysia today, CPO for December 2018 was traded at RM1,964 a tonne at 3:23pm after reaching its highest and lowest so far today at RM1,971 and RM1,931 respectively.

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