CPO Futures Close Mostly Higher

CRUDE

palm oil (CPO) futures prices on Bursa Malaysia Derivatives ended

mostly higher yesterday, as market players increased their holdings

ahead of the weekend, said dealers.

One of the dealers said the

ringgit’s continuous appreciation would likely continue next week,

making investors worry that it meant more cost for exports.

Before the CPO price escalate further, some of the market players increased their holdings, he said.

At close, September 2010 was at RM2,820 a tonne, October 2010 was up

RM17 to RM2,702 a tonne, November 2010 rose RM30 to RM2,645 a tonne and

December 2010 closed RM31 higher to RM2,627 a tonne while new contract,

January 2011, stood at RM2,620 a tonne.

Total volume surged to

19,046 lots from 16,002 lots on Wednesday while open interest improved

to 68,199 contracts from 66,747 contracts on Wednesday.

On the physical market, September South declined RM20 to RM2,730 a tonne from RM2,750 a tonne on Wednesday.

Source : Business Times

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