CPO Futures traded on a mixed note last week. Prices recovered from lower levels on short coverings and settled 1.22% higher. However, weak overseas palm oil prices capped the upside and pressurized prices at higher levels.
Palm oil Futures on KLCE traded on a negative note last week and settled 0.25% lower on weaker than expected exports coupled with an increase in the inventories. Also, seasonally higher yield period added to the downside pressure. However, short coverings were seen at lower levels.
According to Malaysian Palm oil Board, exports increased 1.18% in April against March, while palm oil output jumped 3.92% and the end stocks increased 4.6%.
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