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Crude Palm Oil Futures (FCPO) Specifications

EXCHANGE Bursa Malaysia Derivatives (BMD)
PRODUCT SYMBOL FCPO
CONTRACT SIZE 25 metric tons
PRICING UNIT Ringgit Malaysia
TICK SIZE (Minimum Fluctuation) RM1.00 per metric ton
CONTRACT MONTHS Spot month, the next 5 succeeding months, and thereafter, alternate months up to 24 months forward
TRADING HOURS 1st session: 10:30 a.m. to 12:30 p.m.,
2nd session: 3:00 p.m. to 6:00 p.m.
DAILY PRICE LIMIT When at least 3 non-spot month contracts are trading at the 10% limit above or below the previous day settlement price, the trading will halt for 10-minute and thereafter will enter into a 5-minute pre-opening period. The limit will then be expanded to not more than 15% above or below the previous day settlement price. There shall be no price limit for the spot month.
SETTLEMENT TYPE Physical Delivery
LAST TRADE DATE Contract expires at noon on the 15th day of the spot month or if the 15th day is a non-market day, the preceding Business Day.
TENDER PERIOD First Business Day to the 20th day of the delivery month. If the 20th is a non-market day, the preceding Business Day.
CONTRACT GRADE AND DELIVERY POINTS Crude palm Oil of good merchantable quality, in bulk, unbleached, in Port Tank Installations approved by the Exchange located at the option of the seller at Port Kelang, Penang/ Butterworth and Pasir Gudang (Johor). Free Fatty Acids (FFA) of palm oil delivered into Port Tank Installations shall not exceed 4% and from Port Tank Installation shall not exceed 5% Moisture and Impurities shall not exceed 0.25% Deterioration of Bleachability Index (DOBI) value of palm oil delivered into Port Tank Installations shall be at a minimum of 2.5 and of palm oil delivered from Port Tank Installations shall be at a minimum of 2.31.
DELIVERY UNIT 25 metric tons, plus or minus not more than 2%.
SPECULATIVE POSITION LIMIT 500 contracts net long or net short on the spot month.
5,000 contracts on any single month except for the spot month.
8,000 contracts on all contract months combined.

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