CPO PRICE APRIL 13: Malaysia’s Stock Tumbles, Prices Rise Significantly

The CPO futures contract for June 2016, the most active contracts on Bursa Malaysia, was seen soaring 1.06% to a level of 2,666 ringgit/ton at 09:51 WIB, after opening at 2,667 ringgit/ton.

The Malaysian Palm Oil Board (MPOB) has stated that the reserves of palm oil from the world’s second largest producer have fallen 13.1% to 1.89 million metric tons in March 2016 compared to the previous month.

Production has increased 17% to 1.22 million tons, and exports have increased 23% to 1.33 million tons.

The CPO futures contract previously closed by weakening for six days in a row since its last strengthening to a level of 2,770 on 4 April.