Palm | Kelapa Sawit

Palm oil futures ended in a positive territory after it recovered from early losses. Benchmark Apr09 immediately fell to intra day low of 1741 after opened RM17 lower at 1762, following the loss of overnight NYMEX crude oil and CBOT soy oil, coupled with the weak export data reported by both private cargo surveyors, ITS and SGS, that released yesterday. However, CPO prices did not go down any lower as buyers slowly took charge. eCBOT soy oil rebounded slightly while Dalian palm also rose steadily after its long CNY holiday. These had helped to provide a cushion of support to our local CPO prices. Benchmark Apr09 climbed slowly through out the day and ended at the intra day high at 1788.