Palm | Kelapa Sawit

CPO futures continued to rally higher on stronger global vege oil market. Benchmark Apr09 hit intra day low of 1798 after it gap up RM14 during opening at 1802, following the early rebound of eCBOT soy oil after its overnight losses, coupled with Asian time crude oil extending its gains in the early trade. As global vege oil gaining more strength, this had helped to improve market sentiment and sent CPO prices to rise all the way up through out most of the sessions until it hit intra day high of 1852 in the afternoon session. Benchmark Apr09 then hovered between 1842-1822 level before it was finally pushed up and settled RM57 higher at 1845.