Interband Group of Companies senior palm oil trader Jim Teh said the data, which are usually released on the 10th of each month by Malaysian Palm Oil Board , would provide traders and investors a better picture of the country's stock position and determine their next move in the market.
"But overall, the CPO market has been performing well compared to the equity market, despite the COVID-19 pandemic, and we hope this momentum continues,” he told Bernama. For the week just-ended, the market was traded mostly mixed tracking the crude oil prices, concerns over a second wave of the coronavirus, and buying demand.
On a Friday-to-Friday basis, the CPO futures contract for July 2020 decreased RM52 to RM2,421 per tonne, August 2020 fell RM37 to RM2,390 per tonne, September 2020 dropped RM10 to RM2,358 per tonne, while October 2020 rose RM6 to RM2,348 per tonne. Weekly turnover increased to 228,676 lots from 193,822 lots last Friday while open interest widened to 238,796 contracts from 238,188 contracts.Article type: metered
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