CPO Futures Closed Higher

CPO Futures closed higher tracking firm International market and increase in base import prices of crude palm oil and RBD palmolein. The increased was by $24 a tonne each. Tariff prices are revised every fortnight, based on their movement in the international market and changes in the foreign exchange rate. The prices were last revised on Jan 13. Malaysian palm oil ended higher on Monday on expectation of rise in exports and poor production estimates in January. The Southern Peninsula Palm Oil Millers' Association (SPPOMA) released data last week showing a drop of 21.8% in production for January.

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