CPO Futures End Higher On Tighter Supply Outlook
KUALA LUMPUR, July 7 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher today, supported by expectations of weaker production.
'Seasonal factors and weather conditions are likely to slow down harvesting, leading to a tighter supply outlook for Malaysian palm oil,' he told Bernama.
He said stronger export performance is also supporting prices as firm demand from key buyers helps absorb supply.
'We see support at RM4,000 per tonne and resistance at RM4,150,' he said.
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