Palm | Kelapa Sawit

CPO futures recovered from yesterday’s weak closed to end generally higher after trading in narrow range. Generally, players were cautious ahead weekend and some important data due to release early next week. MPOB will release its official Dec08 supply & demand data on Monday while private cargo surveyor will issue their 1-10 Jan09 export number, which expects to be around 350k-400k. Benchmark Mar09 was trading in a narrow range between 1903 to 1948 before it settled RM55 higher at 1920. Firmer eCBOT and steady crude oil prices also provided some support to the market.