FCPO dramatically closes up 170 points (approx 6%)

FCPO Active Month Daily Chart

The FCPO implies a breakout above 2800 where it gaps up on the last trading day with an approximate 140 points (5%) to open at 2903/mt. FCPO prices is expected to journey higher although Ringgit would be expected to remain strong. Any means of a weakening of RM would possibly trigger another hike in palm oil prices due to increase price competitiveness in the global market.