20 Dec 2016
CPO futures for December 2016, the most active contract on Bursa Malaysia, sprinted 2.27% or 60 points to 2,702 ringgit per ton at 09:58 WIB.
On Monday (19/9/2016) trading, palm oil prices skyrocketed 3% or 77 points to reach 2,642.
“Traders expect prospects for an increase from the industry conference in India this week,” said Josephine Goh, Associate Director of Futures and Commodities at RHB Investment Bank, as cited by Bloomberg today, Tuesday (20/9/2016).
On the other hand, the sluggish performance of the Malaysian ringgit has also provided support for the market. The ringgit’s exchange rate was seen to conversely weaken by a modest 0.08% to reach 4.1415 per US dollar at 10:12 WIB.
India’s 11th largest trade exhibition for the food and beverage processing industry, ANUTEC – International Food Tec India, along with the PackEx India, Food Logistics India and Annapoorna World of Food India trade exhibitions will be held on 22-24 September 2016 in Mumbai.
Date | Level | Change |
20/9/2016 (09:58 WIB) | 2,702 | +2.27% |
19/9/2016 | 2,642 | +3.00% |
16/9/2016 | - | - |
15/9/2016 | 2,565 | +1.26% |
14/9/2016 | 2,533 | -0.67% |
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