CPO Futures Advance on Bargain Hunting

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher yesterday on bargain-hunting activities after recent losses,

dealers said.

They said the CPO prices traded lower last week on

speculation of improved supplies in major producing countries as well as

weaker export data.

May 2011 rose RM10 to RM3,299 a tonne, June

2011 increased RM24 to RM3,260, July 2011 added RM13 to RM3,246 and

August 2011 was higher by RM20 at RM3,245.

Turnover declined to 19,154 lots from 23,004 lots last Friday and open

interests eased to 106,835 contracts from 107,393 previously.

On the physical market, April South was slightly higher at RM3,310 from the RM3,300 last Friday.

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