Trending News: CPO Futures Hit Two-year High On Weak Production, Lower StocksThe Fletcher School At Tufts University Launches STEM-Designated International Development Economics TrackCapitaLand Malaysia Trust’s Sustainability-linked Loans Total RM752 Mln To DateVikneswaran: Young Tigers ‘clueless’ After Taking Lead In Loss To IndiaGamuda Stock Jumps After Securing Taiwan’s MRT ProjectFahmi To Contact Meutya To Discuss Social Media-related Issues, Digital SecurityLiyana Just Wanna Have Fun In Pro Debut At Maybank C’shipsHelp Is On The Way For Shuttler Qi Xuan Through NSI – HannahNIQ Launches Marketing Mix Modeling Solutions, Expanding Its Media DivisionKLGCC Course Gives World No 2 Lilia Vu The JittersBayan Lepas Sinkhole: IWK Pipe Repair Works Nearly Completed – ExcoJumio Leads With Innovation By Announcing Over 300 Patents And Patent ApplicationsMAB Focuses On Enhancing Training, Hiring Workers To Address Demand, Modern AircraftKenanga Investment Maintains 2024 GDP Growth Forecast At 5.0 PctJumio’s Patent Count Exceeds 300, Reinforcing Position In Identity SolutionsMITI Finalising Sustainable Development Guidelines For Data CentresXsolla Reaffirms Market Leadership With Over 400 Web Shops LaunchesGovt To Ensure Construction Sector Remains Competitive, Sustainable – PM AnwarKerjaya Prospek Group Bags Two Contracts Worth RM34.43 MlnMalaysia’s Electrified Vehicle Count Reaches 33,319 Units As Of Sept 30 — Tengku ZafrulCIDB Calls On Construction Sector To Focus On Sustainable MethodSC’s Audit Oversight Board Prohibits Auditor From Auditing For One YearPAMB, UNIMAS Jointly Host Sarawak Grads Financial ConventionMalaysia’s Energy Transition Development Attracts Interest Of Japanese – FadillahBudget 2025: RM15.1 Mln To Bolster Smart City DevelopmentMalaysia Should Utilise COP16 Platform To Showcase Biodiversity Conservation – ExpertsOPUS International And HSS Engineering Forge Strategic Joint Venture To Lead Infrastructure Development Across Southeast Asia And Middle East‘Cicak’ Nabbed For Alleged Involvement In 22 House Break-insPart 2: Families In Despair As Millions In Pilot Training Funds Go MissingHigh Court Rules ‘Duta Enclave’ Should Be Retured To Semantan EstateHytera To Revolutionize Mobile Workforce Communication By Launching P5 Series Poc RadioSyed Muhammad Naquib Contributes Greatly To Islamic Thought And Civilisation – PM AnwarMMEA To Receive New Ships, Upgrade Fleet With RM675 Million AllocationClose Encounters Of Two Teenage Girls With Suspected KidnappersOrganisations Should Integrate ESG, Help Cut Greenhouse Gas Emissions – Nik NazmiBursa Malaysia Ends Lower For Third Consecutive DayMPs voice Support, Concerns Over Minimum Wage IncreasePakistani Man Nabbed For Attempting To Bribe PolicemanKPWKM Committed To Tackling Domestic Violence Issue – NorainiCustoms Dept Denies Viral Claims Of DG Interference In S’wak Vehicle Smuggling CaseAirAsia Combo Units To Cut Co2 Emissions By 20,000 Tonnes Annually – LokeSOJC: Malaysia Suffer Third Consecutive Defeat After 2-4 Loss To IndiaKuala Kangsar Water Sport Festival Postponed In View Of Current Flood Situation In PerakNanny’s Chilling Experience Of Nearly Falling Prey To Human Trafficking SyndicateCourt Of Appeal Sets Dec 5 For Najib’s House Arrest Addendum Appeal HearingMalaysia To Collaborate With Various Stakeholders In Pursuit Of UHC and SDG 2030Unbelievable Jeff! IriusRisk Introduces an AI-powered Tool Which Can Generate Threat Models From ImagesBudget 2025 To Attract More Quality Investments, Making Malaysia Preferred Investment Destination – MIDARM2 Billion Allocation Shows Madani Govt’s Commitment To Upholding Islam – IKIMPolice Nab Man For Robbing Hotel EmployeeSix New Fire Stations To Improve Response Time In Six LocationsFloods: 468 Evacuees Still Seeking Shelter At Relief CentresEBC Financial Group Expands Partnership with DiNapoli’s Leading Indicators, Revealing Key Strategies for Navigating Black Swan EventsCPO Futures Close Higher On Expectation Of Weaker Production35 New Projects For Construction Of Additional PPKI Buildings Nationwide Next YearGold Futures Close Marginally LowerCooperative Board Member On Remand For Power AbuseNicol David Appointed As ITA’s Education AmbassadorNational Fraud Portal Cuts Fund-tracing Time To 30 Minutes, Boosts Frozen FundsSupplementary Electoral Roll For September 2024 Open For Review – ECQuantexa Recognized as Category Leader in the RiskTech Quadrant® for KYC SolutionsMMEA Vessel KM Sebatik Back In Service After RefitAudit Important To Ensure Accuracy Of Financial Reports, Compliance With Tax Laws – IRBAnwar Hails Achievement Of ‘Magnificent Seven’ In Olympics, ParalympicsGovt Drafting Plan To Recover 420,000 Hectares Of Abandoned Rubber LandEnergy Storage Key To Solar Power Integration — CitaglobalAppeals Court Reserves Decision On Bribery Appeals By Former Ministry Sec-Gen And SonRinggit Ends Lower Vs US Dollar As External Factors Weigh1,236 Terengganu Police Officers, Personnel On Standby For FloodsPM Anwar And JBIC Discuss Green Energy, Digitalisation Industry InvestmentsBlack and Veatch Serves As Owner’s Engineer For Combined Cycle Power Plant In SarawakFBM KLCI Futures Ends Mostly LowerThree Policemen Charged With Accepting RM3,000 BribePenang FC To Make Final Drastic Decision Soon4.4 Mln Vehicles From S’pore Paid Almost rm88 Mln To Enter Johor In Nine Months – LokeBursa Malaysia’s Early Gains Erode As Investors Lock In ProfitsDiesel Subsidy Claims Down By 51.6 Pct In August Vs May — Economy MinistryPerform Cost-Benefit Analysis For Targeted Subsidies – RafidahAs ASEAN Chair In 2025, Malaysia Should Prioritise People-centric Measures, Intra-ASEAN Trade – ExpertsKodansha’s App K MANGA Branches Into Canada, Australia, New Zealand, SingaporeMalaysia Exports Palm-Based Oleochemicals Worth RM2.82 Bln To China In 2023 – JohariKPK Approves 3,599-hectare Land For Oil Palm Replanting Under TSPKS 2.0 As Of OctoberJBIC Commits To Enhancing Japanese Investments In Malaysia – PM AnwarGamuda Secures RM4.3 Bln Turnkey Contract For Xizhi Donghu MRT Project In TaiwanAugment Threat Models With AI-assistant Jeff – IriusRiskBudget 2025 To Balance Between Fostering Economic Growth And Strengthening Currency- RHBAMJohor Plantations Group Aims To Boost CPO Production By 30 PctBudget 2025: Increase In KDN Allocation Empowers Enforcement AgenciesFlood: Perak, Selangor See Drop In Evacuees, New PPS Open In Sarawak, KLCopilotIQ and Biofourmis Merge to Create the First End-to-End Platform for AI-Driven In-Home CarePERKESO-Specific Initiatives Reflect Government’s Wish To Create Inclusive, Sustainable EconomyInvesting In Children Not Merely Moral Obligation But Economic Necessity – Abang JoElectrician Pleads Not Guilty To Mischief, Causing Hurt To ManMCMC Begins Public Consultation On Draft COC For Social Media PlatformsHome Ministry To Prioritise Upgrading Police Stations, IPDs – Saifuddin NasutionBursa Malaysia Marginally Lower At Midday In Cautious TradingSUKMA 2024: ADAMAS Declares Sarawak SUKMA As Doping-free GamesSenior Citizen Charged With Cheating Businessman Friend Of RM500,000 In Investment RepaymentForest Reserve, Eco Rimba Park Activities In Pahang Temporarily SuspendedKPT, PTPTN Collaborating With Madani Monitoring Unit To Study New PTPTN Financing Model
Thu. Oct 24th, 2024
Trending News: CPO Futures Hit Two-year High On Weak Production, Lower StocksThe Fletcher School At Tufts University Launches STEM-Designated International Development Economics TrackCapitaLand Malaysia Trust’s Sustainability-linked Loans Total RM752 Mln To DateVikneswaran: Young Tigers ‘clueless’ After Taking Lead In Loss To IndiaGamuda Stock Jumps After Securing Taiwan’s MRT ProjectFahmi To Contact Meutya To Discuss Social Media-related Issues, Digital SecurityLiyana Just Wanna Have Fun In Pro Debut At Maybank C’shipsHelp Is On The Way For Shuttler Qi Xuan Through NSI – HannahNIQ Launches Marketing Mix Modeling Solutions, Expanding Its Media DivisionKLGCC Course Gives World No 2 Lilia Vu The JittersBayan Lepas Sinkhole: IWK Pipe Repair Works Nearly Completed – ExcoJumio Leads With Innovation By Announcing Over 300 Patents And Patent ApplicationsMAB Focuses On Enhancing Training, Hiring Workers To Address Demand, Modern AircraftKenanga Investment Maintains 2024 GDP Growth Forecast At 5.0 PctJumio’s Patent Count Exceeds 300, Reinforcing Position In Identity SolutionsMITI Finalising Sustainable Development Guidelines For Data CentresXsolla Reaffirms Market Leadership With Over 400 Web Shops LaunchesGovt To Ensure Construction Sector Remains Competitive, Sustainable – PM AnwarKerjaya Prospek Group Bags Two Contracts Worth RM34.43 MlnMalaysia’s Electrified Vehicle Count Reaches 33,319 Units As Of Sept 30 — Tengku ZafrulCIDB Calls On Construction Sector To Focus On Sustainable MethodSC’s Audit Oversight Board Prohibits Auditor From Auditing For One YearPAMB, UNIMAS Jointly Host Sarawak Grads Financial ConventionMalaysia’s Energy Transition Development Attracts Interest Of Japanese – FadillahBudget 2025: RM15.1 Mln To Bolster Smart City DevelopmentMalaysia Should Utilise COP16 Platform To Showcase Biodiversity Conservation – ExpertsOPUS International And HSS Engineering Forge Strategic Joint Venture To Lead Infrastructure Development Across Southeast Asia And Middle East‘Cicak’ Nabbed For Alleged Involvement In 22 House Break-insPart 2: Families In Despair As Millions In Pilot Training Funds Go MissingHigh Court Rules ‘Duta Enclave’ Should Be Retured To Semantan EstateHytera To Revolutionize Mobile Workforce Communication By Launching P5 Series Poc RadioSyed Muhammad Naquib Contributes Greatly To Islamic Thought And Civilisation – PM AnwarMMEA To Receive New Ships, Upgrade Fleet With RM675 Million AllocationClose Encounters Of Two Teenage Girls With Suspected KidnappersOrganisations Should Integrate ESG, Help Cut Greenhouse Gas Emissions – Nik NazmiBursa Malaysia Ends Lower For Third Consecutive DayMPs voice Support, Concerns Over Minimum Wage IncreasePakistani Man Nabbed For Attempting To Bribe PolicemanKPWKM Committed To Tackling Domestic Violence Issue – NorainiCustoms Dept Denies Viral Claims Of DG Interference In S’wak Vehicle Smuggling CaseAirAsia Combo Units To Cut Co2 Emissions By 20,000 Tonnes Annually – LokeSOJC: Malaysia Suffer Third Consecutive Defeat After 2-4 Loss To IndiaKuala Kangsar Water Sport Festival Postponed In View Of Current Flood Situation In PerakNanny’s Chilling Experience Of Nearly Falling Prey To Human Trafficking SyndicateCourt Of Appeal Sets Dec 5 For Najib’s House Arrest Addendum Appeal HearingMalaysia To Collaborate With Various Stakeholders In Pursuit Of UHC and SDG 2030Unbelievable Jeff! IriusRisk Introduces an AI-powered Tool Which Can Generate Threat Models From ImagesBudget 2025 To Attract More Quality Investments, Making Malaysia Preferred Investment Destination – MIDARM2 Billion Allocation Shows Madani Govt’s Commitment To Upholding Islam – IKIMPolice Nab Man For Robbing Hotel EmployeeSix New Fire Stations To Improve Response Time In Six LocationsFloods: 468 Evacuees Still Seeking Shelter At Relief CentresEBC Financial Group Expands Partnership with DiNapoli’s Leading Indicators, Revealing Key Strategies for Navigating Black Swan EventsCPO Futures Close Higher On Expectation Of Weaker Production35 New Projects For Construction Of Additional PPKI Buildings Nationwide Next YearGold Futures Close Marginally LowerCooperative Board Member On Remand For Power AbuseNicol David Appointed As ITA’s Education AmbassadorNational Fraud Portal Cuts Fund-tracing Time To 30 Minutes, Boosts Frozen FundsSupplementary Electoral Roll For September 2024 Open For Review – ECQuantexa Recognized as Category Leader in the RiskTech Quadrant® for KYC SolutionsMMEA Vessel KM Sebatik Back In Service After RefitAudit Important To Ensure Accuracy Of Financial Reports, Compliance With Tax Laws – IRBAnwar Hails Achievement Of ‘Magnificent Seven’ In Olympics, ParalympicsGovt Drafting Plan To Recover 420,000 Hectares Of Abandoned Rubber LandEnergy Storage Key To Solar Power Integration — CitaglobalAppeals Court Reserves Decision On Bribery Appeals By Former Ministry Sec-Gen And SonRinggit Ends Lower Vs US Dollar As External Factors Weigh1,236 Terengganu Police Officers, Personnel On Standby For FloodsPM Anwar And JBIC Discuss Green Energy, Digitalisation Industry InvestmentsBlack and Veatch Serves As Owner’s Engineer For Combined Cycle Power Plant In SarawakFBM KLCI Futures Ends Mostly LowerThree Policemen Charged With Accepting RM3,000 BribePenang FC To Make Final Drastic Decision Soon4.4 Mln Vehicles From S’pore Paid Almost rm88 Mln To Enter Johor In Nine Months – LokeBursa Malaysia’s Early Gains Erode As Investors Lock In ProfitsDiesel Subsidy Claims Down By 51.6 Pct In August Vs May — Economy MinistryPerform Cost-Benefit Analysis For Targeted Subsidies – RafidahAs ASEAN Chair In 2025, Malaysia Should Prioritise People-centric Measures, Intra-ASEAN Trade – ExpertsKodansha’s App K MANGA Branches Into Canada, Australia, New Zealand, SingaporeMalaysia Exports Palm-Based Oleochemicals Worth RM2.82 Bln To China In 2023 – JohariKPK Approves 3,599-hectare Land For Oil Palm Replanting Under TSPKS 2.0 As Of OctoberJBIC Commits To Enhancing Japanese Investments In Malaysia – PM AnwarGamuda Secures RM4.3 Bln Turnkey Contract For Xizhi Donghu MRT Project In TaiwanAugment Threat Models With AI-assistant Jeff – IriusRiskBudget 2025 To Balance Between Fostering Economic Growth And Strengthening Currency- RHBAMJohor Plantations Group Aims To Boost CPO Production By 30 PctBudget 2025: Increase In KDN Allocation Empowers Enforcement AgenciesFlood: Perak, Selangor See Drop In Evacuees, New PPS Open In Sarawak, KLCopilotIQ and Biofourmis Merge to Create the First End-to-End Platform for AI-Driven In-Home CarePERKESO-Specific Initiatives Reflect Government’s Wish To Create Inclusive, Sustainable EconomyInvesting In Children Not Merely Moral Obligation But Economic Necessity – Abang JoElectrician Pleads Not Guilty To Mischief, Causing Hurt To ManMCMC Begins Public Consultation On Draft COC For Social Media PlatformsHome Ministry To Prioritise Upgrading Police Stations, IPDs – Saifuddin NasutionBursa Malaysia Marginally Lower At Midday In Cautious TradingSUKMA 2024: ADAMAS Declares Sarawak SUKMA As Doping-free GamesSenior Citizen Charged With Cheating Businessman Friend Of RM500,000 In Investment RepaymentForest Reserve, Eco Rimba Park Activities In Pahang Temporarily SuspendedKPT, PTPTN Collaborating With Madani Monitoring Unit To Study New PTPTN Financing Model
Thu. Oct 24th, 2024

CPO Futures Hit Two-year High On Weak Production, Lower Stocks


KUALA LUMPUR, Crude palm oil (CPO) futures on Bursa Malaysia Derivatives rallied to a two-year high, driven by expectations of weak production and lower stock levels in both Malaysia and Indonesia, a trader said.

Palm oil trader David Ng noted that market sentiment was further supported by gains in soybean oil futures on the Chicago Board of Trade (CBOT).

‘We see support at RM4,400 and resistance at RM4,580,’ he told Bernama.

Meanwhile, Fastmarket Palm Oil Analytics senior analyst Sathia Varqa attributed the price rally to a combination of robust export growth and weak production.

Citing UOB KayHian’s production survey for October 1-20, he explained that production in Sabah had risen between seven per cent and 11 per cent, while Sarawak and Peninsular Malaysia experienced declines of three per cent to seven per cent and six per cent to 10 per cent, respectively.

Overall, he estimated that production during this period had dropped by one per cent to five per cent, tightening market supply.

‘The bullish m
omentum, combined with strong export growth, weak production, and solid gains in related vegetable oils, has been enough to ignite a buying frenzy in CPO futures,’ he added.

At today’s close, the spot month November 2024 contract rose RM113 to RM4,563 per tonne, December 2024 gained RM103 to RM4,514, and January 2025 added RM100 to RM4,486.

The February 2025 contract increased by RM98 to RM4,443 per tonne, March 2025 surged RM93 to RM4,932, and April 2025 rose by RM87 to RM4,337.

Trading volume jumped to 102,234 lots from 75,113 on Monday, while open interest increased to 257,024 contracts from 254,456 previously.

The physical CPO price for October South was higher at RM4,590 per tonne.

Source: BERNAMA News Agency

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