CPO Futures Close on Steady Note

CRUDE palm oil futures on Bursa Malaysia Derivatives closed firmer
yesterday, supported by the uptrend on soyoil and crude oil prices,

dealers said.

The gain was also supported by higher demand in the

local market but the production level was lower, they said.

Investors

were also waiting for the cargo surveyors’ palm export data, which is

scheduled to be released tomorrow, the dealers said.

At yesterday’s close, the February 2010 contract gained RM35 to RM2,560

per tonne, March 2010 increased RM24 to RM2,554 per tonne, April 2010

added RM29 to RM2,550 per tonne and May 2010 was RM26 higher at RM2,545

per tonne.

Turnover, however, declined to 13,069 lots from 15,644

lots last Friday while open interest rose to 76,779 contracts from

74,744 contracts previously.

On the physical market, February

South rose to RM2,575 per tonne from RM2,530 per tonne last Friday.

Source : Business Times

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