CPO prices end higher

Local CPO prices also received a boost from strong overseas demand. — Reuters pic
Local CPO prices also received a boost from strong overseas demand. — Reuters pic

KUALA LUMPUR, Feb 4 —The crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended the half-day trading session higher on better demand, a dealer said.

He said local CPO prices also received a boost from strong overseas demand ahead of the Chinese New Year festival.

The local market will be closed on Feb 5-6 for the Chinese New Year holidays and resume operations on Feb 7. 

Spot month February 2019, March 2019, April 2019 and May 2019 added RM7 each to RM2,207, RM2,275, RM2,306 and RM2,328 per tonne respectively.

Turnover decreased to 5,327 lots from 24,751 lots on last Friday, while open interest weakened to 191,726 contracts against 215,476 contracts. 

On the physical market, February South was unchanged at RM2,180 per tonne. — Bernama