KUALA LUMPUR, Oct 12 -- Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives today ended higher for the sixth consecutive day in anticipation of higher export demand for this month, dealers said.
A dealer said inventories showed a declining pattern on the back of strong export in the first 10 days of October and a tight supply scenario in the fourth quarter of the year.
Malaysian Palm Oil Board (MPOB) announced today that export of palm oil in September increased by 1.88 per cent month-on-month to 161 million tonnes versus 1.58 million tonnes previously.
Stocks, however, were slightly higher by 0.40 per cent to 934,710 tonnes during the reviewed month from 930,990 tonnes in the preceding month.
Another dealer said the stronger soyabean oil prices in China’s Dalian Commodity Exchange had also helped to support the CPO price.
At the close, the CPO futures contract for October 2020 gained RM40 to RM3,060 per tonne, November 2020 surged RM80 to RM3,047 per tonne, December 2020 soared RM83 to RM2,994 per tonne, and January 2021 climbed RM79 to RM2,944 per tonne.
Total volume reduced to 58,695 lots from 61,241 lots on Friday, while open interest narrowed slightly to 253,605 contracts from 258,490 contracts previously.
Meanwhile, the physical CPO price was RM80 higher at RM3,090 per tonne for October South.
-- BERNAMA

https://www.bernama.com/en/market/news.php?id=1889065
Sumber : Bernama