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Analyst Sathia Varqa expects CPO futures to test RM2,800 per tonne before pulling back, after the August contract rose RM285 to RM2,890 in the week to July 24, the highest since February. Palm has become less competitive against soybean oil, which trades about US$70 above it.
Trading volume on Bursa Malaysia hit a record.
Palm's premium to soyoil and crude-linked trading suggest near-term price support is fragile, which affects vegetable oil and feed fat costs.
thestar.com.myThe Star OnlineJul 25, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
