CPO Futures End Lower For Third Consecutive Trading Day
KUALA LUMPUR, Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower for the third consecutive trading day, mainly driven by India imposing higher import tax on edible oils, according to a trader. Palm oil trader David Ng said market sentiment was also influenced by the stronger ringgit against the US dollar. ‘We see support at RM3,700 and resistance at RM3,820,’ he told Bernama. Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said CPO futures saw a slight decline following a steady South American soybean oil free-on-board markets and a recovery in Black Sea sunflower oil prices. He noted