CPO prices rebound on news of China buying soyoil
Shares in IJM Plantations Bhd and Genting Plantations Bhd(pic) rose 13 sen and 12 sen to RM1.60 an RM10.12, respectively.
PETALING JAYA: Prices of crude palm oil (CPO), which touched the lowest level in four years, rebounded following news that China will increase its purchase of US soyoil.
The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange was up RM16 to RM1,967 per tonne in intraday trading.
Last Friday, it fell to its lowest since mid-August 2015 at RM1,951 per tonne.
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