KUALA LUMPUR (Dec 20): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Monday, tracking weaker Chicago Board of Trade (CBOT) soybean oil prices, said palm oil trader David Ng. He said the decline in crude oil prices also dragged the CPO futures market lower. “This will result in a big drop in December palm oil export, and if production does not get affected much, the December end palm oil inventories in Malaysia will considerably rise,” he added. “However, the key data will be the Dec 1-20 palm oil production estimates from Malaysian Palm Oil Association (MPOA), UOB and Southern Peninsula Palm Oil Millers' Association (SPPOMA). “Malaysia is also expected to announce its palm oil export tax for Jan 2022 this week,” he added.

Source: The Edge Markets December 20, 2021 14:16 UTC