Crude Palm Oil (CPO) Futures Market
The benchmark January crude palm oil futures contract closed on Bursa Malaysia Derivatives (BMD) at RM2,260 a metric ton, up MYR70 or 3.2%, after trading in the range of MYR2,207- MYR2,273/ton.
CPO prices rose sharply after crude oil prices broke the $80 a barrel resistance to close at $80.32 a barrel.
Cash palm olein for January/February/March was traded at $687.50/ton. Cash CPO for prompt shipment was offered MYR80 higher at MYR2,240/ton.
Malaysia Palm Oil News
Malaysia’s state owned plantation firm, Felda, has put on hold plans to cultivate between 3,000 – 5,000 hectares of oil palm plantations in Brazil due to technical and environmental issues. A joint venture with a Brazilian company announced last year would have seen 100,000 hectares developed near the Amazon by Felda.
The Roundtable on Sustainable Palm Oil (RSPO) envisioned a bright future for palm oil following its sixth general assembly in Kuala Lumpur. Proposed resolutions for the RSPO to commission a working group to establish a system to share the cost of sustainable palm oil certification for small holders had been well accepted.
The benchmark January crude palm oil futures contract closed on Bursa Malaysia Derivatives (BMD) at RM2,260 a metric ton, up MYR70 or 3.2%, after trading in the range of MYR2,207- MYR2,273/ton.CPO prices rose sharply after crude oil prices broke the $80 a barrel resistance to close at $80.32 a barrel.
Cash palm olein for January/February/March was traded at $687.50/ton. Cash CPO for prompt shipment was offered MYR80 higher at MYR2,240/ton.Malaysia Palm Oil News
Malaysia’s state owned plantation firm, Felda, has put on hold plans to cultivate between 3,000 – 5,000 hectares of oil palm plantations in Brazil due to technical and environmental issues. A joint venture with a Brazilian company announced last year would have seen 100,000 hectares developed near the Amazon by Felda.The Roundtable on Sustainable Palm Oil (RSPO) envisioned a bright future for palm oil following its sixth general assembly in Kuala Lumpur. Proposed resolutions for the RSPO to commission a working group to establish a system to share the cost of sustainable palm oil certification for small holders had been well accepted.
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