CPO FUTURES END HIGHER TRACKING SOYBEAN PERFORMANCE (SCREEN)

ZUFAZLIN BAHARUDDIN

KUALA LUMPUR, Feb 6 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher today, tracking the better performance of soybean oil on the Chicago Board of Trade.

Palm oil trader David Ng told Bernama the higher crude oil price also provided a fillip to the CPO prices today.

He added that the anticipation of weaker oil palm production in January also contributed to the gains in the CPO market.

“We locate the next support level at RM2,800 per tonne and resistance at RM2,950 per tonne,” he said.