CPO futures close lower for second consecutive day
The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives extended Wednesday’s losses to end lower on Thursday, tracking weakness in related soybean oil on the Chicago Board of Trade (CBOT) and China’s Dalian Commodity Exchange. Singapore-based Palm Oil Analytics owner and co-founder Sathia Varqa said the lacklustre equities market performance due to fears of a global slowdown also weighed on CPO prices.