CPO PRICES April 11: Malaysia's production increases, CPO reverses to weakening

The June 2016 CPO futures contract, the most active contract on Bursa Malaysia, opened down by 0.26% to MYR2,673 per ton this morning. The commodity price had earlier improved by 0.63% to MYR2,697 per ton at 10:02 a.m. WIB.
However, at 2:02 p.m. WIB, the CPO price fell again by 0.67% to MYR2,662 per ton.
The Malaysian Palm Oil Board (MPOB) announced that the second-largest palm oil producer's palm oil stock fell 13.1% to 1.89 million metric tons in March 2016 as compared to the previous month. Production increased by 17% to 1.22 million tons, and exports by 23% to 1.33 million tons.
The CPO futures contract had previously closed with a loss for four consecutive days since the latest gain to 2,770 on 4 April.
Price Movement of the June 2016 CPO Contract




Date


Level


Change



11/4/2016(2:02 p.m. WIB)

2.622


-0.67%




8/4/2016


2.680


-1.11%




7/4/2016


2.710


-0.44%




6/4/2016


2.722


-1.23%




5/4/2016


2.756


-0.51%




Source: Bloomberg