Kontan Harian, 18 October 2018
The benchmark palm oil contract for January 2019 delivery on Malaysia Derivatives Exchange was up 0.75% to 2,261 ringgit a metric ton on Wednesday (October 17). The price of crude palm oil (CPO) gained 0.08% in a week.
Garuda Berjangka Director Ibrahim said demand from India, which will celebrate the Diwali festival next month, also contributed to the CPO price strengthening. He expected a 10% CPO demand increase from India in November. He estimated CPO price to continue going up and range between 2,244 ringgit and 2,270 ringgit per metric ton today (October 18).
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