KUALA LUMPUR, Oct 9 -- Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher for the fifth consecutive day due to weaker production against improving exports so far this month.
Singapore-based Palm Oil Analytics’ owner and co-founder, Dr Sathia Varqa said exports showed an improvement within the first 10 days of this month, causing a drop in stocks and a tight supply scenario in the fourth quarter of the year.
“The first 10 days of exports are up (an estimated) nine to 13 per cent, a massive improvement from the first five days which recorded a drop of 1.34 per cent,” he told Bernama today.
The expectation of a moderate rise in palm oil production ahead of the Malaysian Palm Oil Board's (MPOB) report on Monday had also pushed prices higher, he added.
At the close, the CPO futures contract for October 2020 added RM20 to RM3,020 per tonne, November 2020 surged RM26 to RM2,967 per tonne, December 2020 gained RM23 to RM2,911 per tonne, and January 2021 climbed RM17 to RM2,865 per tonne.
Total volume strengthened to 61,241 lots from 51,276 lots on Thursday, while open interest rose to 258,490 contracts from 247,344 contracts.
Meanwhile, the physical CPO price was RM10 higher at RM3,010 per tonne for October South.
-- BERNAMA

https://www.bernama.com/en/market/news.php?id=1888302
Sumber : Bernama