CPO closes at 2-year high on better-than-expected MPOB data

CPO closes at 2-year high on better-than-expected MPOB data

The Edge Markets - Malaysia·2019-11-12 03:02

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed at a two-year high at RM2,655 per tonne on Monday (Nov 11), analysts said. 

A trader, David Ng, said this was backed by the stronger-than-expected crop data, after the Malaysian Palm Oil Board (MPOB) reported an overall decrease in the palm oil stock level to 2.34 million tonnes, versus market estimates of 2.54 million tonnes. 

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