KUALA LUMPUR: Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade in yo-yo mode this week in the absence of market participants due to new year holidays.
However, Interband group of companies senior palm oil trader Jim Teh said the commodity is expected to trade between RM3,400 per tonne and RM3,700 per tonne.
“We expect it to be like a yo-yo because international players are still on leave,” he told Bernama.
Commenting on the commodity performance for 2022, Teh said the palm oil showed a stellar performance despite the high level of inventories in Malaysia and Indonesia.,
,chơi game kiếm tiền（www.84vng.com）：chơi game kiếm tiền（www.84vng.com） cổng Chơi tài xỉu uy tín nhất việt nam。chơi game kiếm tiền（www.84vng.com）game tài Xỉu đánh bạc online công bằng nhất，chơi game kiếm tiền（www.84vng.com）cổng game không thể dự đoán can thiệp，mở thưởng bằng blockchain ,đảm bảo kết quả công bằng.
“As we compare the trend from 2007 until now, it has been on an uptrend, from RM1,500 per tonne to more than RM3,000 per tonne now,” he said, adding that CPO is the most profitable agriculture product in the country,” he added.
For the shortened trading week just ended, CPO futures were mostly higher tracking gains in the regional market as well as vegetable oil markets including soybean oil futures on the Chicago Board of Trade (CBOT).
On a weekly basis, January 2023 jumped RM369 to RM4,171 per tonne, February 2023 gained RM342 to RM4,162 per tonne, March 2023 was RM344 better at RM4,174 per tonne, April 2023 rose RM326 to RM4,159 per tonne, May 2023 increased RM310 to RM4,140 per tonne and June 2023 accumulated RM294 to RM4,109 per tonne.
Total weekly volume decreased to 183,061 lots from 238,001 lots in the previous week while open interest edged down further to 200,198 contracts from 207,324 contracts at the end of last week. The physical CPO price for January South stood at RM4,180 per tonne.
The market was closed on Dec 26 for the Christmas holiday and it will be closed on Jan 2, 2023 for the New Year holiday replacement day and would resume trading tomorrow.
Telegram好玩的bot（www.tel8.vip）是一个Telegram群组分享平台。Telegram好玩的bot包括Telegram群成员导出、telegram群组索引、Telegram群组导航、新加坡telegram群组、telegram中文群组、telegram群组（其他）、Telegram 美国 群组、telegram群组爬虫、电报群 科学上网、小飞机 怎么 加 群、tg群等内容。Telegram好玩的bot为广大电报用户提供各种电报群组/电报频道/电报机器人导航服务。