Crude palm oil futures rose due to production concerns

New Delhi. strong global signals boosted market sentiment, and MCX crude palm oil futures trading performed strongly today. The benchmark MCX CPO futures in April rose slightly to 1,142 rupees per 10 kilograms, and the current trading price is 1,130 rupees per 10 kilograms, up 1.71% on the day.

In the past few months, the global CPO market has maintained a good momentum due to the continuous increase in edible oil prices in major consumer regions.

The Malaysian Palm Oil Board stated that production in February fell to a five-year low of 1.1 million tons. Last month, Bursa Malaysia’s benchmark palm oil futures touched nearly 4,000 ringgits per ton. Malaysia’s exports also fell from 947,000 tons in January to 896,000 tons in February, which is the lowest level since 2012. As La Nina has hit palm production, unfavorable weather conditions have made prices generally positive, as commodities are stagnating. Now 3750 ringgit per ton.