KUALA LUMPUR (Jan 28): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives hit a fresh all-time high on Friday on prospects of weaker output as well as stronger soybean oil performance on the US Chicago Board of Trade (CBOT), palm oil trader David Ng said. The benchmark palm oil contract for April 2022 jumped RM184 to RM5,628 a tonne. Meanwhile, Singapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa said CPO traded on further record high prices driven by Indonesia’s export policy. “Prices hit record high today (Jan 28). I do not think there are any new fundamentals to support the rise to a new record high except for speculation.
