CPO Feb Futures Prices Continue



CPO Feb Futures prices continue its uptrend and closed higher yesterday due to good physical demand. Steady demand by the traders and stockists coupled with increase in import prices keeping prices higher in domestic market.

According to latest data released by SEA, during NovemberDecember 2015, import of refined oil (RBD palmolein) jumped to 4,61,192 tonnes from 1,03,136 tonnes in the same period of previous oil year. Import of palm products during October 2015 is the highest in any single month at 1.11 mt. Exports too declining on concern over China’s slowing economy.

There are on reports of lowest reserves seen in 6-month in Malaysia due to lower production as El Nino sets in. Concern of dryness due to El Nino weather pattern will lower fresh fruit bunch yields in top producers Indonesia and Malaysia. Malaysian production is likely to decline from January to June, drawing down palm oil stockpiles. It is expected that the output may only pick up in July

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