CPO Futures Close Nearer to RM3,000

CRUDE

palm oil futures on Bursa Malaysia Derivatives closed higher yesterday

with prices moving close to the RM3,000 level driven by the weakening of

the dollar and concerns of short supply, dealers said.

October

2010 gained RM15 to RM2,890 a tonne, November 2010 rose RM7 to RM2,930,

December 2010 gained RM14 to RM2,930, January 2011 climbed RM16 to

RM2,936 and February 2011 went up RM16 to RM2,936 a tonne.

Turnover

was lower at 19,448 lots from 22,166 on Thursday while open interest

was lower at 68,320 contracts from 69,515 previously.

As for physical price, the October contract traded between RM2,920 and RM2,950 compared with RM2,930 previously.

Source : Business Times

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