On average, October production was seen to rise by 1.61% to 1.871 million tonnes.
KUALA LUMPUR: Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives rebounded yesterday to close at a 22-month high again on last-minute buying interest.
Singapore-based Palm Oil Analytics’ owner and co-founder Dr Sathia Varqa said the market sentiment was supported by the Malaysian Palm Oil Association’s (MPOA) confirmation of slower production growth in October.
According to MPOA, October production output was up by 1.02% from the previous month, which was a lower pace compared to the 13% and 6% rise in the October 2017 and October 2018, respectively.
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